Command Economic System

What is the main purpose of the economic system? The main purpose of the economic system is method used to produce and distribute goods and service. The three economic questions are: “What goods should be produced?” “How should these goods and services be produced” And “Who consumes these goods and services?” The characteristic of a market economics is that self-interest is the motivating force in the free market, self regulating market. The interaction of buyers and sellers motivated by self-interest and regulated by competition, all happen without a central plan. In a market economy, economic decisions are made by individuals and are based on exchange or trade. However, characteristics of a command economic

Socialism is based on bureaucratic centralized planning and collective ownership. Believers of socialism propose that it creates equality and provides economic security and that capitalism is an inferior system that exploits workers for the benefit of the wealthy owners. Critics of socialism believe that it is based on faulty principles and ignores people’s nature and the power of incentives.

Capitalism is the best economic system for any country because it allows individuals to make their own business decisions, and be self-motivated, it confines the authority owned by the government. Capitalist countries are more technologically advanced and better educated as compared to socialist countries. Capitalism is different from socialism in many respects.

A command economy is an economy where the central government manages all or most resources. They make economic decisions and control productions so that can benefit people in any way. They control on what is being produced and how it is going to be produced. People favor this economy because they can rely on the government on supplying enough goods meanwhile keeping the prices low and affordable. Also command economies make sure productions that are being produced are environmentally friendly so that it won't be bad for the environment. Some of the advantages of command economy include low levels of inequality and unemployment. Another top advantage is adjusting the production rate and availability of completed goods. The government predicts if the demand is going to fall or rise by viewing if goods and items are used efficiently. The disadvantages of command economy include the lack of competition and efficiency. Even though planners try their best when it comes to making economic decisions based on analyzing their history of goods and service productions, they sometimes fall on shortage on goods and fail to meet demands and needs of people. Another disadvantage is misplaced incentives where central government controls prices, supplies and services/goods being produced that are not part of peoples' demands.

Today we can see many links between capitalism and socialism. Our government today is run on progressivism/ socialist ideals. President Barack Obama has several plans and ideas to help the poor by giving them the money of the rich people, and supplying them with health care (obamacare) and so on. Progressives wanted to help people, they wanted to help the poor, this was not morally wrong but many other people saw that this was hurting our economy. Our government is socialist/ progressive because they want to have government control over other money and they want to have the ability to decide where that money goes. But you can’t just do that. If those people earned their wealth they should have every right

Although socialism may have better benefits, capitalism has it perks as well. Such as producers and consumers being able to own their own business. The upside of this is that no one other than the government can take the business away from the owner. This results in more rights for the owner. An example of improved rights of the owner could include the owner making their own regulations, deciding wages for employees, choosing how to insure their business, etc. Now the big picture that this focuses greater upon is that it greatly promotes self-interest, rather than government control.

The government also makes all main economic choices. Places like China have a command economy, and command economies grant hardly any freedom to people, as the government is very harsh on society. Everything is controlled by a central power. Although command economies are strict, they adapt to change well, thus that being a major advantage. There is very little uncertainty with where to work because their lives are already basically planned out. In a command economy it is very easy to make your own business, as in a market economy it could end up taking weeks, months, or even years just to get started. Also, in a command economy since it is so strict families are limited to have maybe one child, and soon the family will depend on that child when they are no longer able to work – making the child responsible for a lot of things in the family. Command economies are not poor, because there is always production and its very rare that a worker would be able to call

Economic systems are organized way in which a state or nation allocates its resources and apportions goods and services in the national community. An economic system is slackly defined as country’s plan for its services, goods produced, and the exact way in which its economic plan is carried out. There are three types of economic systems exist, they are command economy, market economy, and mixed economy. Command economy is also sometimes called planned economy. The expectations of this type of economy is that all major decisions that related to the construction or production, distribution, commodity and service prices are all made by the government. However, in market economy, national and state governments play a

Command economies and market economies are two different economies and both effect a workers life and I will explain how they both effect a workers life. The first example I will start with is how command economy affects a worker's life and the my first example of how a worker is affectebyes he or she can not pick the job they want to work at and that has lots of effects on a workers life. One example would be that a worker does not get to pick there job so there for he does not get to pick the salery they get and when they get a low salery his or her family can become very poor. So the worker can suffer there whole life because the government picks what job you have. On the other hand market ecomony could affect a workers life too. One example

What is the best way for an economy to succeed? What is the best way to run a country’s economy? These are questions that have been asked since the very beginning and are possibly still being asked today. Economics is the way each county chooses to produce, distribute, and consume its services and goods within the country and with other countries. As we see in the documentary, Commanding Heights P1: The Battle of Ideas, the economic ideas throughout history have changed to better sustain each country as a whole.

A state chooses its economic system by answering three important questions: what goods need to be produced, how will they be produced, and who are they being produced for? The two main economic structures used in the world today are command and market systems. In a command system, everything relating to the economy, such as production, employment, and wages, is controlled by a central planning authority in the government. The government decides what goods will be produced, how they will be priced, and who they will be distributed to. Command economies are designed to benefit the entire population rather than the individual consumer. On the other end of the spectrum is the market economy; government interference is kept to a minimum in this

Economies around the world are all unique in their own way. The two most common looked into are the command economy and the market economy. A command economy is considered communism and socialism. It is considered communism because the properties are owned, labor is organized for the advantage of the community, and the citizens consume according to their needs. The command economy is also considered socialism because the government runs the basic productive in order to distribute the output in ways that may seem better for the society.

A catastrophic event has occurred and the world as we know is ending. Leaders, friends, family, gone. In order for the human race to survive, we must rebuild civilization. However in the event of rebuilding civilization, we must decide which economic system is most viable in this time.

A lot of American companies have invested large amounts of money in foreign countries in order to obtain lands, natural resources, and cheap labor. With these large sums of money large corporations have indirectly gained a lot of influence in the economy of other countries. Large corporations make a lot of money investing in foreign countries but they also bring jobs and capital to these countries that so desperately need them.

In seeking to highlight the key differences between socialism and capitalism, it would be prudent to first offer a concise definition of the two terms. Capitalism in the words of Brinkerhoff, White, Ortega, and Weitz (2007) "is the economic system in which most wealth (land, capital, and labor) is private property, to be used by its owners to maximize their own gain." As the authors in this case further point out, this particular economic system is largely founded on competition. Socialism on the other hand is defined as "an economic structure in which productive tools are owned and managed by the workers and used for the collective good" (Brinkerhoff et al., 2007). From the definitions, it is clear that unlike capitalism, socialism favors a situation whereby there is deliberate control as well as planning of economic activities on behalf of the entire community. In the case of capitalism, no attempt is made to have economic activities controlled from a central point on behalf of the community. Here, enterprises are allowed to compete in the supply of goods and services as they seek to rake in monetary returns. The key