Question

Explain the difference between a mixed economy and a command economy. Give an example of an East Asian country that has a mixed economy and one that operates under a command economy. Make sure to write your response in complete sentences.

Answer 1

A mixed economy has both business ran by the government and free market businesses. A mixed economy has factors of partly controlled government business, and part supply and demand. most economies today are mixed. A command economy is completely government controlled. Iran and China are great examples of command economies.
you may use all that i have said.

Answer 2

In command economy is owned and controlled by the government,while a mixed the markets and government coexist.

What is a mixed economy and a command economy?

The command economy is the means of production are owned and controlled by the government,while a mixed is a system of distribution, commerce, and trade in which markets and government coexist.

• The government controls the system under a command economy.
• A mixed economy is administered by the government and partly by a free market economy, in which there is no government interference and the economy is mostly driven by supply and demand.  

Therefore the above statement explains the mixed and command economy.

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