93.4k views
1 vote
What’s the difference between a command economy and a market economy

User Mparaz
by
8.0k points

1 Answer

2 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. Most nations operate largely as a command or market economy but all include aspects of the other.

Step-by-step explanation:

User Zerocewl
by
8.6k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.