An economic system that uses both free-market and command principles?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

It's called a mixed economy, and that's what most economies in the world are. There are only a few exceptions. North Korea has a completely command economy, and perhaps the Grand Cayman Island has a completely free market economy.

What type of economic system does the US have?

In terms of capitalism, there are many kinds ranging fromlaissez-faire capitalism to social capitalism, where laissez-faireinvolves no government regulation of businesses, corporations,commerce, or production and social capitalism involves heavygovernment regulation of businesses, corporations, comm ( Full Answer )

What is the main economic system of the US?

Answer 1: Capitalism Answer 2: I disagree with the first answer. We are generally regarded to be a "mixed economy", that is to say, a blend of freedom and controls. The "freedom" part is Capitalism and the "controls" part is Socialism or Fascism. (Most of what people call "Capitalism" is ( Full Answer )

What is the economic system of the US?

Capitalist Economy. ? Not at all. The "pat" answer to the question of the US economic system of theterm capitalist is far from being accurate. Most economists willuse the term of "free market economy" or a "mixed economy" andthere are valid reasons for this. The US Government and the organizatio ( Full Answer )

Compare Command and market system?

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 g ( Full Answer )

What is Command economic system?

A command economy is one where a central authority controls all economic activity, 'commanding' what products are produced, and what crops are grown, investment and prices etc.

What was the economic system of the US?

With the exception of the depression era of the 1930's (the stock market crash of 1929), our capitalistic system of government has given the citizens of the US a very high standard of living.

What is a command economic system?

A society that is controlled by the government that helps equality and stability.. A society that is controlled by the government that helps equality and stability.

What kind of economic system do you have in the US?

The government has many social programs that take from the "rich" and give to the potential voters. We have Social Security, welfare, Medicare, medicaid, AFDC, all "socialist" in theory. Therefore, we have some mix of free market socialism.

What are the advantages of a free market economic system?

advantages of a market system are as follows . 1.consumer and producer sovereignity is upheld to the maximum.-that is consummers can purchase any good they wish while producers can create any good they wish without government hindrance. . 2.competition exists in market systems. . this results in ( Full Answer )

What is a market economic system?

An economy that allows business owners to complete in the market with little government interference.

Market Economic system?

{also known as Unplanned economy} resources are allocated through the price mechanism. The ownership and control of important resources such as land and capital are in the hands of private firms and individuals. Property laws grants them the right to make decisions about these resources and to deter ( Full Answer )

What is market economic system?

In economic terms, a market system is one in which a willing buyer and a willing seller engage in mutually agreeable commerce. It involves no government intervention, except for the possibility of judicial involvement to enfoce one party's rights to the benefits of the bargain that they made in the ( Full Answer )

What economic system does Libya use?

Libya has a command economy. Also known as controlled or planned economy. This is where a government retains the power to decide how the nations economic resources should be allocated. It has complete control over how theses resources are used.

What is the economic system on the US?

The United States uses a mixed free market economy allowing private enterprises to control the economy with minimal interaction from the government. More recently though, the government now owns much larger portions of the economy because of the federal bailouts.

Command economic system?

it is that type of economy where by resource allocation is done mostly by the state and ther is limited individual intervention

What economic system is used in the US?

For the most part, the United States has a market economy in which individual producers and consumers determine the kinds of goods and services produced and the prices of those products.. However, we can say it is Capitalism which is the economic system of the United States. . For the source and ( Full Answer )

Disadvantages of command economic system?

There is no private ownership. The economy is designed to meet needs not wants. No motivation to work hard. People often don't lose the jobs so they do the bare minimum to get by.

What is principle of economics?

How a society produces thing to meet their needs from available resources and how society allocate those resources among members of society based upon the contribution made and other factors.. Clearer question: better answer.

Do you have a free market system in the US?

The economic system in the US is considered a mixed-economy. It has elements of both capitalism (free market system) and that of a socialist economy system. . The economic system in the US is considered a mixed-economy. It has elements of both capitalism (free market system) and that of a socialis ( Full Answer )

What economic system does the US has?

Free Enterprise It is not Capitalism A Free Enterprise System is when you have the right to run a business to make a profit with limited interference from the government.

What kind of economic system the US have?

The United States has a State Capitalist economy. the 6 types of economies are: Radical Capitilism, Classic Liberal Capitalism, State Capitalism, European Social Democracy, Worker Management Socialism, Centralized Socialism, and Communism. As you go from left to right, answers to who owns businesses ( Full Answer )

How do command economics and market economics help solve the economic problem?

The three questions of any economy are: What to produce How to produce it and For whom to produce it In a command economy, the government or central planning decides all three answers. In a market economy, the producers decide what and how and the consumers (based on prices and their demand) decid ( Full Answer )

What type of economic systems does the US have?

It's mixed, which almost all real economies are in practice. It's closest to a market economy, but there are some significant aspects of a command economy such as substantial farm subsidies.

Contrast how a market system and a command economy try to cope with the problem of economic scarcity?

A command economy is a system where the government, rather than the free market, determines what goods should be produced, how much should be produced and the price at which the goods will be offered for sale. The command economy is a key feature of any communist society. China, Cuba, North Korea an ( Full Answer )

An economic system based on free markets which promotes individulasim?

Free market capitalism is the only economic system that is predicated on these bases. It is not same as that which is currently practiced in the United States, due to the interference of government and political forces in the economy. A pure capitalist society is based upon willing buyers and will ( Full Answer )

Do most people in the US support an economic system that is pure free market capitalism?

No they obviously don't as they have a social security system and their government has a lot of sway in economic affairs. the governments involvement in the resque package in the last economic crisis is another example of how people expect the government to save them from the excesses of free market ( Full Answer )

Why countries uses economic systems?

I don't think you know what an economic system means. Every single country, every single state, every single city, every town and every house have an economic system. Economics is simply the study of the choices people make under limited resources (money, time, actual resources etc). So two people t ( Full Answer )

What type of economics system do you have in the us?

The US has a Mixed Economy. This means that the system is a mix of a Free/ Market Economy (no government interference) and a Centrally Planned Economy (controlled by government). In our system, the government, therefore, can affect and regulate the economy, but cannot control it.

What describes a market economic system?

In a market economy, a free price system is used to determine thecost of goods and services. Also, decisions about things likeproduction and distribution are made based on supply and demand,rather than dictated by a government.

What is the economic system is in the US?

The United States has what is called a "Mixed Market System" meaning aspects of both a free market capitalism (no regulation) system and a government socialism (largely or completely regulated) system are merged into a mixture of the two. Example: You may invest your money in the stock market as you ( Full Answer )

What economic system is use?

well according to my research eat corn beef five times a day and have sex also five times a day be gay and suck my dick

How is communism considered both an economic system and a form of government?

Communism is a system of allocating resources the the people and creating a socially equal result. All citizens will be given the same resources at the same amounts. Everything is essentially communally owned, and communally produced. As a result, there is no social stratification - nobody is rich, ( Full Answer )

What is the free-enterprise economic system?

A free-enterprise economic system allows for the private ownership for most of the means of production within a nation. Modern day governments place a degree of control over this economic system by having laws to regulate production and trade. For example, a government can pass laws to regulate mini ( Full Answer )