Command Economic System Research Paper

There exists a multitude of individuals who desire the title of ‘entrepreneur’. Thankfully, there exists such a system which makes this title easier to attain - the free enterprise system. The free enterprise system provides individuals the ability to make their own economic decisions, without limitations from the government. With this in mind, free enterprise has been necessary for Elon Musk to help found the electric automobile company, Tesla, Inc. With the free enterprise system, Elon Musk has made an impact on the business world with the ability of being able to lower risk for consumers, as well as create advanced products for consumers.

‘Herewith appear to be the most pressing matters; one, infective and inexperienced entrepreneurial leadership. Two, the dialectic nature between front of house and back of house, and three, a lack of general training motivation and direction in original concept.’

* I think the best is mixed, because it contains both privately-owned and state-owned enterprises. It gives people the right to what they want and also the government to be involved. The government can intervene to make sure that the companies don't harm the customers.

The free enterprise system allows for individual consumers economic freedoms with little to no restrictions from the government. Bill grew up in a middle class not to poor or rich. His interest in the business industry started when he was very young. In his early teens Bill began to show interest in computer programming. This small interest was the foundation for his now large and successful business. He and his business partner Paul Allen started their first business when Bill was only 15. His industry began to expand as he and his partner began creating new software for other large companies to use. If the country used a different type of method like command entrepreneurs in general would not exist. Command unlike free enterprise is run completely by the government. The government regulates all goods and services; they even tell people where to work. Although its main purpose is to promote equality many citizens under

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

In contrast, the economy within societies based on tradition lies on procedures designed in the past and maintained by shared customs and beliefs which are extremely powerful (Helibroner 8). For a society based on commands, there is always an imposed authority or an economic command. The economic problems are solved according to the commander’s decisions (Helibroner 10). This is the very first time in human beings’ history that economy is run by markets, making the transformation to market society appear to be unprecedented (Polanyi 43).

Free-market and Command economy are the two-major economy system. It has sparked years of controversies among individuals over which system is better. However, no agreement has been reached. Meanwhile, it is obvious that free-market economy predominates all around the world as the majority of countries are following an economy which free-market process the dominating position.

Then there is the Traditional economy, which they do things the way they have always been done. Another one is the Command

In a market economy, consumers decide what is produced, producers decide where and how to produce, and consumers decide who gets the products. Also, all productive resources are privately owned and operated. In a traditional economy all resources come from self labor and the government owns all resources. In a command economy, the government plans ways to allocate resources in key industries. Command economy’s government owns all basic resources and anything else is privately owned.

Rapid spending and development resulted in higher wages, but also higher land prices. As producers expand their factories in free enterprise zones, wages will most likely go up because factories will be in a more free market economy and the government will have a little bit less control. On the other hand, workers working in state-owned factories will most likely still be under control of the government, as it is a state-owned factory. They will most likely still have to follow what the government policies in put for the work place are. Since free enterprise zones give an opening to the free market economy, obviously the government being a part of the command economy would not be in so much of an agreement with letting businesses take even the slightest lead and much less control the workers’ wage. Being under a command economy, I would personally migrate to free enterprise zones without even thinking. Why?

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

For many nations, it is essential to choose a system of organization that successfully and thoroughly meets the needs of all the people. While some countries have supported the idea of communism and strong government intervention in the economy, others have limited the role and power of their governing body in the marketplace. For instance, in the United States, the government has a small role in the planning and monitoring of their economy. Individuals compete heavily against one another to receive the maximum profit for themselves in an sufficient manner. The former USSR, on the other hand, used large amounts of government control to restrict competition and control the output and distribution of the goods

In the Market Capitalism Model it is easier for any individual to enter the market. Any new business that enters the market is in to make profit and to create competition. Competition creates and offers better value to customers and opponent firms. Businesses in this model focus on creative work and profitability. The creative work is well done therefore people are happy with the products, services etc. In the Market Capitalism Model management’s goal is to increase shareholders interests (investments). Government regulations are limited.

Communism is also a form of a command economy. In a communistic economy all the

This type of economy works in the private sector of business ie. Individual firms. A command economy is an entirely different system in which a central government decides how to answer the three central economic questions. The government would decide what is to be produced, how it is to be priced etc.