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Command systems are controled by a central planner, who decides what to produce, how to produce it, and who gets what's produced. This sytem is one of the more ineffecient systems and within it, there's much waste. Factors of production are government owned, there's limited technology, very little growth, and low levels of productivity. Present day examples would be North Korea or Cuba. Market systems are more free from government control. Consumers decide what is produced, the producers determine the best means of production, and the actual price decides who gets the product/what's being produced. There's a much higher level of productivity in this system. Change is quick, it's very high tech, and it's also very effecient. A present day example of this would be Hong Kong.
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What kind of economic system does Chile have?
A Market command system
What is the command system?
Command system is when the government makes decisions or when the economic decision is taken by the central body. This type of system contrasts the market economy.
What are the different economic system?
traditional economic system command economic system market economic system
What economic system would be the worst for competition between producers of command or market or traditional or mixed?
command
What are the three different economic system?
traditional economic system command economic system market economic system
A mixed economy is a combination of which of the economic system?
Free-market and command
What countries have a command economic system?
Some countries that have a command market economy include China, Saudi Arabia, and Syria. Venezuela and Laos also have command market economies.
What kind of benefits do people receive in a market economy system In a command economy system?
are the benefits do people
What kinds of benefits do people receive in a market economy system in a command economy system?
are the benefits do people
What type of economic system does Cameroon have?
What type of economic system does Cameroon, Africa have? (traditional, command, market, or mixed)
What countries have previously converted from a command market system to a market econimc system?
ej cool your very smart but how do u spell omnipotent in ten diffrent ways ej:
What kind of benefit do people receive in a market economy in a command economy system?
are the benefits do people
