How does a command economy differ from a market economy?

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01-09-2015
Social Studies

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How does a command economy differ from a market economy?

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WorldCitizen WorldCitizen · Answer 1 · 2015-09-01T12:17:30+02:00

WorldCitizen WorldCitizen

01-09-2015

In a command economy, the economy is decided by the state, who decides what will be produced and in what amounts, and how how it will cost (think: Soviet Russia).

In a market economy, the market decides: what is produced depends on the demand.

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