What is the main difference between command and market economies?
Answer
A
In a command economy only, the government owns most of the businesses and means to make money.
B
In a market economy, the government decides the prices to make sure everyone has equal ability to pay for items; in a command economy, all items are provided.
C
A command economy is reflective of government regulation, while a market economy is reflective of what consumers want and need.
D
Competition only hurts the market economy as companies change prices and goods to meet consumer wants.