Purchase Solution

How does the market system differ from the command system in

Not what you're looking for?

Ask Custom Question

How does the market system differ from the command system in addressing the economizing problem?

Purchase this Solution
Solution Summary

How does the market system differ from the command system in addressing the economizing problem?

Solution Preview

How does the market system differ from the command system in addressing the economizing problem?

Answer:

The market system in economics has less dominant government control. The consumers are the ones who decide what goods are ...

Purchase this Solution
Free BrainMass Quizzes
Learning Lean

This quiz will help you understand the basic concepts of Lean.

Six Sigma for Process Improvement

A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.

Team Development Strategies

This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.

Basics of corporate finance

These questions will test you on your knowledge of finance.

Operations Management

This quiz tests a student's knowledge about Operations Management

View More Free Quizzes
Related BrainMass Solutions

  • market system differ from the command system

    432616 Characterize market system companies. How does the market system differ from the command system in addressing the economizing problem? In the market system companies make decisions based on the consumer demand of a good.

  • market economic system

    359181 market economic system Please provide assistance. 1). Explain how the market economic system works to answer the fundamental economic questions. Explain how this may differ from a command economic system.

  • Market and command economy

    The command system copes with economic scarcity by following directions of how resources must be allocated from the government.

  • Elasticity and Outperforming Command Systems

    In a pure market system, we let the market determine the output based on supply and demand. In a command system, the government would dictate our economic factors.

  • Economic Decisions: Tradition, Command and Market Economies

    The solution discusses economic decisions made in tradition, command, and market economies. The pros and cons are also mentioned.

  • Three Basic Economics Questions

    In a centralized command and control system the question of what to produce is determined by the government. In a price system what is produced is determined by the market forces.

  • Bases of Authority

    How does authority differ from power? Explain how people or departments within organizations can gain power through control of resources and through solving key organizational problems.

  • distributing marketable pesticide permits

    In order to improve on the effectiveness of the command and control approach, economic incentives must be included in policy making. An incentive-based system includes alternatives such as, Pigovian taxes, subsidies, and marketable permits.

  • The Three Main Types of Economic Systems

    Provide the name of the country and the type of economic system it practices. Discuss several advantages and disadvantages of one type of economic system 1. A market economy is one in which individuals own and operate the factors of production.

View More Related Solutions