Comparing/Contrasting Command And Market Economies

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Comparing/Contrasting Command and Market Economies

A Market Economy is a government in which the citizens and people decide how the businesses, goods, and services are used and sold. This differs with an economy like a Command Economy, which the government decides everything about the goods sold, including what is produced, sold, and the price at which its sold. This is the main reason why these economies are different, government power and freedom to citizens.

Other than that difference, there are many other pros and cons to the two economies. With the capitalism in a Market Economy, it shows that the entrepreneur's make the profit from their business rather than the government. This in turn makes the citizens more wealthy. It also works

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