Defined btwen command ecnomy and demand ecnomy?

Answer 1

A command economy is an economic system where the government centrally plans and controls production, distribution, and prices, often with the aim of achieving specific social or economic goals. In contrast, a demand economy, often referred to as a market economy, relies on supply and demand to determine prices and production levels, allowing consumers and businesses to make decisions based on market signals. While command economies prioritize state control and equality, demand economies emphasize individual choice and competition.