Question

Free markets and command markets. What do you think the US market would have been closer to 50 years ago? Today?

Answer 1

Answer:

A comparison of the US market is given below

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Explanation:

If we take a look at back about 50 years ago in 1970 the markets in US was command market, this means that the products that were made were directed by the government to be made and even the price on which it should be sold was directed by the government. Currently the markets are free markets in which the production of goods are initiated and directed by the sellers and the prices of the products are also decided by them.