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Command Economy Research Paper

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Command and Market economies

Knowing what Command and Market economies are is important. Command economy is based on having a government decide on productions, investments, incomes and prices in how they work. The market economy is having prices be determined by the interaction of supply and demand. Some advantages of market economy are having it give the producers a reason to produce goods that consumers want. The market system also requires much more of a freedom standard of economic freedom. Knowing what type of advantages market economies give is important, it issues to get some useful skills, making sure everything is in its place. Some disadvantages are having the business give false information or easily satisfy the wants they’ve created through some advertising. Another reason why market economy can have …show more content…

One of its advantages is having command economy produce goods which can benefit the population or as in the society and make sure everyone can access to their necessities. Another one of its advantages is it can prevent a crowd of unemployment, making sure they get things together for everyone. The disadvantages leading to command economy cannot always be easy. It can be that the government can have their times of giving false or poor information about what should be produced. One other disadvantage is that not always can the command economy always make sure to respond to your opinions; since they have the most say in what they believe is right. It is most likely that the command economy has a very powerful say in where the government has individuals limit their rights in what they look into the economic purpose. Communism and socialism are a part of the command economy. Communism is where most properties are owned by anyone and each person works and is paid due to how well they work. Socialism deals with any distribution or production that is owned by a group, for example a

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