Compare and contrast the goals of command and mixed market economies. Why are there many more mixed market economies than command economies in the world today?

Give your answer in the form of a short paragraph

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07-06-2022
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Compare and contrast the goals of command and mixed market economies. Why are there many more mixed market economies than command economies in the world today?

Give your answer in the form of a short paragraph

Sagot :

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Chilljain33idn Chilljain33idn · Answer 1 · 2022-06-15T07:38:18-04:00

The government has the sole authority to govern the economic functions in a command economy; whereas, in a mixed economy, partial control is in the hands of the government and a part is controlled by the buyers and sellers.

What are the types of economy?

A command economy is a type of economy where the substantial control of the functioning is in the hands of the government; while government control is not substantial in a mixed market economy.

There are more mixed market economies in the world, as government undertakes control of only the key markets in its economy, which it deems shall be under government supervision. India is an example of a mixed economy.

Hence, the significance of the different types of economies is given above.

Learn more about the types of economies here:

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Sagot :

What are the types of economy?

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