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Features of a Market and Command Economy

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Highlight the main features of a market economy and a command economy. Explain the importance of price in a market economy?

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The solution discusses the features of a market and command economy.

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The main features of a market economy, include the fact that the investment decisions in regards to particular products and or services, as well as the distribution of goods and services, are dependent upon the supply and demand for the goods and/or services. In addition, the quantity of goods and services that are produced are also dependent upon the supply and demand for the goods and services within a market economy. In ...

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  • Criminal Justice, Elizabeth City State University
  • Master of Public Administration, North Carolina Central University
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