Question

A fundamental difference between the command system and laissez-faire capitalism is that, in command systems, Multiple Choice the division of output is decided by central planning rather than by individuals operating freely through markets. all economic decisions are made by the government, whereas there is no government in laissez-faire capitalism. scarcity does not exist, whereas it does in laissez-faire capitalism.

Answer 1

The fundamental difference between the command system and laissez-faire capitalism is the role of government in economic decision-making. In a command system, the government decides the division of output through central planning, whereas in laissez-faire capitalism, individuals operating freely through markets determine the division of output.

Step-by-step explanation:

A fundamental difference between the command system and laissez-faire capitalism is that, in command systems, the division of output is decided by central planning rather than by individuals operating freely through markets. In a command economy, the government decides what goods and services will be produced, how they will be produced, and who will receive them. This is in contrast to laissez-faire capitalism, where there is no government interference in the economy and individuals make economic decisions based on their own self-interest.