Command Economy 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

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.

The economic system is a transitional economy which is a centrally planned economy to a market economy.

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

There are many similarities and differences within command and market economies. In command economies, the government decides what should be produced, how it should be produced, and who they will be produced for. In a market economy, the prices of goods and services are determined by supply and demand, rather than a central government.

Are the any any disadvantages to traditions? Society is heavily influenced by many ideologies. Some includes, religion, politics, economy, and moral/culture. However, all the ideologies that affect the society has one thing in common, which is tradition. Tradition makes up the very fabric of society. It is a practice that was established in the past and it is still continuing to be celebrated to the president day. For example, the lottery in the story “The Lottery” by Shirley Jackson and the imprisonment of the child in the story “The Ones Who Walks Away from Omelas” by Ursula K. LeGuin. Tradition helps establish the social norms of what is accepted and what is not. The outlook in life that an individual has is heavily affected by their tradition, shaping their own life in turn. Although, tradition plays a key factor in society and in everyday life, it could be also be tremendously disadvantages if the tradition in itself is harmful/toxic to the community that holds the believes.

Tradition is an answer to how peoples live their lives. For many it is a social norm, how they have lived culturally for several generations. Despite the significance of tradition in many societies, it’ can still be very harmful to the people involved. Tradition doesn’t necessarily have to have a positive feature for many folks. In the end tradition could cause more harm than it is meant for good. Thus it is really important to change traditional values of communities to improve the quality of life for many people. In the short stories “The Lottery” by Shirley Jackson and “Lather and Nothing Else” by Hernando Tellez tradition can be shown to be very submissive, that is stopping people from making any changes in ending harmful traditional

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

The type of economic system a country has determines how it operates on an everyday basis. A country could have one of three kinds of economies: traditional, command, or market. There could also be a mixture of the three in a country. Each type of economy has its positive and negative points.

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).

Many times these items may be better quality or lower prices. However many customers grow attached to a brand or store and in turn become loyal to that brand/store. However, a customer may only shop on the basis of price or customer service. In Kmart¡¦s case they do supply products that are exclusive to Kmart, for instance, Thalia Sodi, Jaclyn Smith, Joe Boxer, Martha Stewart, and Sesame Street. This may make or break a customer which means that competition from substitutes is a moderate force in the market. For Kmart, the customers using substitutes for their product may be a tough one for them to outlive. However, there are other external forces that affect the market which may not be so difficult for them to compete in. One of these could be the entry of new entrants or competitors in the market.

In our society today, there are many distinct types of economies. The three leading economies are Market economies, Traditional Economies, and Command Economies. Each Economy is very diverse and unique from the next. An example of a market economy is in the US, and in a market economy there is a great deal of individual freedom and less government involvement. A market economy is based on Capitalism. A Traditional economy is a small group of people who are their own government. Not many societies today use a traditional economy. In a command economy the government controls all economic decisions. Examples of command economies are communist countries such as China and North Korea. Each type of economy has its own advantages and disadvantages as well as its differences about resources and government involvement.

Differences in worldview are the essential foundation of differences in any system, including economic system. As Chapra (1992) said that worldview performs the same function for an economic system as the foundation does for a building: even though the supporting foundation is invariably invisible and unmentioned, it continues to play a determining role.” In general, there are three major economic systems which based on completely distinct worldviews: capitalism, socialism, and Islamic economic system.

Most of the businesses operate in competitive markets: businesses have to take on and see of rivals or competitors.ALDI, a

Economics is the social science that studies the production, distribution and consumption of goods and services and in general the economy includes all of the country's economic system, or any other area, employment, capital, natural resources, industry, trade, distribution, and consumption of goods and services in that region. The economy could also be described as a spatially limited social network where the exchange of goods and services in accordance with supply and demand among participants through barter or through the medium of Exchange using the acceptable values for debt and credit within that social network and a simplified economy shows how the community provides basic needs, there are different ways to measure the economic performance of the country, such as exchange rate and GDP GNP and the securities market and stock market and national debt, interest rates and inflation, unemployment and balance of trade.