Question

Create a Venn diagram to compare and contrast the characteristics of the market and command economic systems.

You will then be using the information in the Venn diagram to write a short response essay that defines both market and command economies, and then makes a claim as to which type of economy you believe is best. Therefore, be sure to include at least three to five details for each portion of the diagram.

Answer 1

Market- controlled by the people, little gov influence
Command- controlled mostly or entirely by government
Both- deal with consumers and producers