89,516 views
37 votes
37 votes
What is the difference between market and command economies

User Batuta
by
3.1k points

1 Answer

23 votes
23 votes
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.
User TheDavil
by
2.8k points