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An economy may be defined as the state of a country or region in terms of the production and consumption of goods and services, and the supply of money.

A market economy (also called a free market economy, free enterprise economy) is an economic system in which the production and distribution of goods and services takes place through the mechanism of free markets guided by a free price system .

On the other hand, a command economy (also known as planned economy) is an economic system in which the state or government controls the factors of production and makes all decisions about their use and about the distribution of income

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โˆ™ 2012-03-30 00:06:13
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Q: What is the difference between a command and market economy?
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Related questions

What is the difference between a market economy and a command economy?

A market economy is a free price system set by supply and demand, a command economy is controlled by a central administration


What is the difference between a command economy and a market economy?

A market economy is a free price system set by supply and demand, a command economy is controlled by a central administration


What is the difference between a command economy and market economy?

A market economy is a free price system set by supply and demand, a command economy is controlled by a central administration


What is the difference between market economy and command economy?

Market economy is where decisions about market activities are made up by individuals rather than government. Command economy is for where decisions about market activities are made up by centrally planned government.


What is the difference between a free market and a command economy?

a free market economy allows business owners to compete in the market with little government interference command economy is when the government has all control over a country or place


Is US a command economy?

No, it is a market economy. The former USSR is an example of a command economy (as well as Cuba, North Korea, and Vietnam) Actually, the U.S. is a mix between a market economy and a command economy. It is more of a market than a command but it is not completely either one.


How does command economy and market economy differ?

how does a command economy differ from a market economy


What is the difference between a market and command economy?

nobody knows it jsut one day popped up in a newspaper


What is the difference between a market economy and a central economy?

Market economy is for capitalist economy system where decisions about market activities are made up by individuals rather than government. Command economy is for communism system where decisions about market activities are made up by centrally planned government.


Is Romania a market or command economy?

It is a market economy.


Is Bahrains economy command or market?

a market economy


Is Greece a market or command economy?

Market economy

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