market economy and command economy comparison

market economy and command economy comparison

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  • Anyone in a market economy has the right to purchase or sell what they want.
  • No, the producers determine what is sold such as clothing but producers also determine how its made.
  • does the government have control on what is sold?
  • The people in a command economy have a fair distribution of wealth, this is called "economic equity".
  • Market economies lack this goal, no wonder why there is a big wealth gap.
  • who decides whom the service or good should be provided for?
  • since the government has less control, people can create their own businesses. this allows private businesses.
  • the producer for example, i cut hair for the consumers. 
  • no, that person doesn't have to like the job. all that matters is that he/she is making income.
  • one good thing is that the government in a command economy provides jobs for everyone. 
  • does a person have choices on what jobs the government provides them with?
  • the downside of a market economy is the wealth gap. jobs are not provided as easily. there is more unemployment.
  • with the needs needed to live, yes. the wealth gap cannot be decreased however.
  • does the government support less fortunate people?
  • command economies lack economic freedom. the black market can grow since the government can restrict the selling of products.
  • the government decides what to produce, how to produce, and for whom to produce. there are no private businesses.
  • who decides the 3 economic questions?
  • I see a deal being made across from us.
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