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+--- Thread: How do market and command economics reflect different social and economic priorities? ? (/thread-7268.html)
How do market and command economics reflect different social and economic priorities? ? - Jan Fran - 10-12-2012 01:39 PM
I'm not going to lie, this is a question fromy hw. I just really need some honest help! My economics teacher is terrible...so I'm only own here, explanation on this topic please!?
- Bored Goblin - 10-12-2012 01:47 PM
Market economy is all about economic growth
Command economy is all about not letting anybody get rich.
- Anjaree - 10-12-2012 01:47 PM
Market economy represents inequality,but rich.
Command economy represents equality,but poor.
- longstreet - 10-12-2012 01:47 PM
A market economy is like what we have here in the US, an economy dominated by free enterprise and a large private sector.
A command economy is the type of economic system employed by communist and socialist countries like the former USSR, cuba, etc. . .and it's basically a system in which the government owns all means of production and decides how much of a good should be produced, who should produce it, and who should buy it.
Market economies reflect the economic priority of growth, the ability for some to become rich and some to fail and become poor, and the social right for people to decide what jobs they have and what goods they buy.
Command economies reflect the economic priority of stability (prices and things don't change like they do in markets because the government controls supply and demand), equality of income where you can't be ridiculously rich or poor, and the social ability for the collective state to decide what is best for individuals instead of letting them choose for themselves