How we can compare the contrast market economy and common economy

History

2 answers:

victus00 [196]3 years ago

5 0

Answer:

Market economies utilize private ownership as the means of production and voluntary exchanges/contracts. In a command economy, governments own the factors of production such as land, capital, and resources. Most nations operate largely as a command or market economy but all include aspects of the other.

Explanation:

enyata [817]3 years ago

4 0

Answer:

Market economies utilize private ownership as the means of production and voluntary exchanges/contracts.

In a command economy, governments own the factors of production such as land, capital, and resources.

Most nations operate largely as a command or market economy but all include aspects of the other.

The type of economy also influences the political and social landscape of a nation, with command economies being more authoritarian and market economies allowing for more personal freedoms.

Explanation:

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