Mixed Economy vs. Command Economy

Our country has a mixed economy. We are stronger together than we are apart. With this philosophy we can make a difference.

“SNIPER, GET DOWN”, yelled Jake Wills. Jake and his platoon where pinned down on the east side of the hill. They were deep in the Vietnam jungle and on a mission to claim the high ground. Jake is a sniper and he is trying to move his men up this hill so he can get into a good position to kill the enemy. Bullets were whizzing by their heads, you could feel the wind of a rounds in your hair. Jake told the radio man, Cory, to call in air support. Before Cory could even get the call in, his head was blown off by a 50cal round. Jake saw Cory’s helmet spinning on the ground and Jake filled with anger. To Jake it was his fault, but he had to keep fighting so he wouldn’t lose any more men. There was a pause in the fire fight and Jake took this time

The economy is the system of how money is made and used within a particular country or region.

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

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.

An economic system of a county is a system for producing, distributing as well as consuming goods and services. It includes a combination of various agencies, institutions, entities and consumers, which constitute the economic structure of a particular community, or society. Both North and South Korea have different economic systems.

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

Economic systems are the ways in which societies are organized to satisfy the needs and wants of people within them. With economies there are many conflicting ideologies; evidently the mixed economy and the command economy. There are a variety of ways to compare economies from the role of governments, economic growth, size of economy, employment and unemployment, quantity of life to environmental quality.

The economy system was the way they produced and exchanged goods. There are four types of economies, them being the Traditional economy also known as a “barter”, Command economy also called a planned economy, Market economy which is also called a demand economy or capitalism, and a Mixed economy. The economic activities being in levels are Primary, Secondary, Tertiary, and Quaternary activities. The more developed the country the greater number and activities. There are also natural resources such as renewable, non-renewable, and inexhaustible energy sources. Those play a major part in the world trade, the value of natural resource depends on the quality that makes it useful. The economic support systems infrastructure consist of the basic support systems needed to keep the economy going. The infrastructure must be sophisticated to be a more developed country. Measuring the economic development is in per capita income, and is measured by gross natural product or by the second statistic gross domestic product. Countries around the world have different levels of economic development. Developing nations countries lack industrial base and struggle, as developed nations countries are with a high per capita income and varied

Throughout the world, free-market economy functions are much more popular as it is the fundamental of capitalism. As the majority of the world economies are mixed economy, the features of command economy cannot be ignored.

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

Economics is the study of how scare resources are used to produce the different things and services that people use. Economic systems are the pathways where communities allocate resources to produce different products and how they use to distribute them towards people. Some economic systems are more efficient in terms of allocating resources than others.

Political economy is the study of production and trade and their links with custom, government and law. It is the study and use of how economic theory and methods influence and develop different social and economic systems, such as capitalism, socialism and communism, and it analyzes how public policy is created and implemented. Since various individuals and groups have different interests in how a country or economy is to develop, political economy as a discipline is a complex field, covering a broad array of potentially competing interests (Investopedia).

In a mixed economy there is still a limited role of the government, but the government does have more of a role than a capitalistic economy. In a mixed economy there are both private and government/state owned entities that coexist

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.