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

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05-03-2021
Business

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

Sagot :

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waseemalaeddin2 waseemalaeddin2 · Answer 1 · 2021-03-14T09:22:46-04:00

waseemalaeddin2 waseemalaeddin2

14-03-2021

Answer:

Market economies utilize private ownership as the means of production and voluntary exchanges/contracts. In a command economy, governments own the factors of production such as land, capital, and resources. Most nations operate largely as a command or market economy but all include aspects of the other.

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