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In a command economy the government decides how resources are used and what goods and service are produced. In a market individuals make the decisions about how resources are used and what gods and services to provide.
What else can I help you with?
Is a market economy the same as a command economy?
No, a command economy is where the central govt. controls everything. A market economy is where the govt. trades, buys, and sells products from different countries.
What are the three types of economy?
Command economy, market economy, and traditional economy. The United States of America is a Market economy.
Is Bahrains economy command or market?
a market economy
Is Greece market or command economy?
Market economy
What are four different types of economic systems?
Market Economy, Peasant/Command Economy, Subsistence Economy, and Traditional Economy.
What do you call an economy that is both partly command and market?
When an economy is partly command and partly market, is called a mixed economy.
Does Belgium have a command or market economy?
Belgium has a market economy.
Is turkey a market economy or command economy?
mixed market
Does Singapore have a command or free market economy?
A market economy
Does Serbia have a traditional command or market economy?
It has market economy
Is Haiti a free market economy or a command economy?
Yes, Haiti is a command economy. A command economy is when the government controls the economy and you are guaranteed a job. However, with a command economy, you cannot open your own business.
What is an economy that is both partly command and partly market?
When an economy is partly command and partly market, is called a mixed economy.
