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26 Nov 2019

constrast how a market system and command system economy differ and deal with scarity?

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Hubert Koch
Hubert KochLv2
8 May 2019
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Related questions

How does a command economy differ from a mixed market economy?
 
(i) In a command economy, citizens have fewer property rights. In a mixed market economy, citizens have more property rights.
(ii) In a command economy, citizens have more property rights. In a mixed market economy, citizens have fewer property rights.
(iii) In a command economy, citizens own all public property. In a mixed market economy, the government owns all public property.
(iv) In a command economy, citizens own all private property. In a mixed market economy, the government owns all private property.

Contrast how a market system and a command economy try to cope with economic scarcity.

Match the following economic systems with their definitions.
 
Free-market economy 
Planned economy 
Mixed economy
 
An economic system that uses both free-market and command principles
An economic system where decisions are made by producers and consumers
An economic system run by the government

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