Question

Compare and contrast market economies, command economies, and mixed economies.

Answer 1

Answer:

In mixed economies, the government has some control, while the rest is up to supply and demand. Command economies are characterized by large surpluses and shortages, monopolies, and prices set by the government. While a mixed economy combines free market with central government planning and intervention, a market economy relies purely on the free market (and the rules of supply and demand) to regulate the economy.

Explanation:

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