Question

Compare the differences in economic goals between a traditional, command, and market economy.

Answer 1

Answer:

There are distinct differences in the goals of the various economic systems. The goal for a traditional economy is to maintain a level of security, while the goal in a command economy is to reach a level of equality among the members of society. The goal of a market economy is less restrictive than the others as it seeks to sustain a high level of economic freedom.

Explanation:

Sample Response

Answer 2

The traditional, command, and market economies have multiple differences, and they can simply be seen in their basic goals.

The traditional economy has a goal of maintaining the things as they are. It tends to keep the things in a relative status quo situation if they work ok, and it tends to avoid risks as much as possible.

The command economy's main goal is self-sustaining. This economy type is focused on producing and consuming for its own market, just the right amount, not more, not less.

The market economy has its goals on open economic collaboration and trade. Its goal is the goods, ideas, and people to be able to move freely, and to have as much more connections around the world as possible.