Question

What is the main difference between command and market economies? In a command economy only, the government owns most of the businesses and means to make money. In a market economy, the government decides the prices to make sure everyone has equal ability to pay for items; in a command economy, all items are provided. A command economy is reflective of government regulation, while a market economy is reflective of what consumers want and need. Competition only hurts the market economy as companies change prices and goods to meet consumer wants.'/; I have 10 mins

Answer 1

command markets are typically communist and closed off while market economys are typically capatilists open to the public

Step-by-step explanation: