Types of economies
Command economy to take in
what to produce how to produce and for whom to produce
market economy
economy, decisions are guided by changes in prices that occur between _individual________________buyers and sellers in the marketplace.
What to produce? What _people_________________ want to buy and sell.
2) How to produce? Individuals and __sellers_______________ decide
- 3) For whom to produce? Depends on _sellers________________ and indviduals____________(individuals)