Economics (10th Grade)
Economic Systems
What is the difference between a command economy and a market economy?
In a command economy, the government determines the production and pricing of goods and services, while in a market economy, individuals and businesses determine the production and pricing of goods and services.
In a market economy, the government determines the production and pricing of goods and services, while in a command economy, individuals and businesses determine the production and pricing of goods and services.
In a command economy, there is no private property, while in a market economy, there is private property.
In a market economy, there is no private property, while in a command economy, there is private property.