Question

Compare and contrast the goals of command and mixed market economies. Why are there many more mixed market economies than command economies in the world today?

Answer 1

When we look at the organizations of the economic activity on the one side we would have market economics and on the distant other the command economics. Firstly, market economics is as the name imply influenced by the market, the supply and demand reign supreme and the manufacturers and providers respond to the demands of the market. The command economics on the other hand is determined by the government. It is the government that dictates what, how many and at what price the goods are to be produced and sold. Many economies are mixed because they have to balance the free market with some sort of government control in order to protect the consumers and to make the economy successful.

Answer 2

Mixed market economies focus on preserving as much freedom to make economic choices as possible. Governments in these economies have limited involvement in managing and regulating the economy. In contrast, command economies are focused most on preserving and requiring equal opportunities, which means governments that greatly regulate the economy. More economic systems are geared toward offering producers and consumers the freedom to make economic choices, so mixed market economies are more common in the world today.