Question

Consider the differences

between a command economy
and a market economy.
Describe how each type of
economy might deal with rising
inflation

Answer 1

Alternatively, a command economy is organized by a centralized government that owns most, if not all, businesses and whose officials direct all the factors of production. China, North Korea, and the former Soviet Union are all examples of command economies. In reality, all economies blend some combination of market and command economies.