123 School Work

Command vs Mixed Economies

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  There are two main types of economies that most people are familiar with, command economy and market economy. Command economy is totally run by the government where as a market economy is based on an individual's choice. A command economy is like having one large company, they control absolutely everything. In a market economy, consumers are free to spend their money as they please. There is no government telling them to not buy or sell certain items. In a market economy the consumers are also the producers because they are able to work for companies or even start their own company to produce services or goods.
  Since a command economy is run by government officials, they get to decide what goods and services are produced, how they can be produced, and how the goods and services can be distributed. Communist countries make use of this command economy. People who have a communist country can not even run their own business as they wish, they have strict rules they must abide to. In a market economy, citizens have rules the must go by, but they are not rules that will make a business owner loose all control...