Mixed,Market,and Command Economies
By Timothy and Jarques
Ratings of some economic goals
Mixed Economy- allows a level of private economic freedom in the use of capital but also allows for governments to interfere in economic activities in order to achieve social aims.
Command economy- governments own all factors of production and government officials determine when,where,and how much is produced at any one time
Market economy- investment,production,and distribution are based on supply and demand and goods and services are determined in a free price system
Economic Security: 4.5
Command Economy-income, healthcare,housing,education etc. is decided by the government
Market Economy-Individual is responsible for everything income, housing, healthcare, etc. (Choice is decisions)
Mixed Economy- the Gov. allows better competition amongst the service providers by providing regulations for protecting the whole society.This Gov. provided aids in the maintenance of a strong and stable economy
Command Economies- China
Who Owns Resources
Market economy-owned by more than one individual.
Command economy-By the state.
Command- the central government
Market- it is the people who make decisions in a modern day market economy