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What Is the Difference Between a Command Economy and a Market

Question 29

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What is the difference between a command economy and a market economy?
A command economy is found only in communist countries, while a market economy is found only in capitalist countries.
A command economy is more efficient than a market economy.
A market economy gives greater "life satisfaction" to people.
A command economy relies on centralized government control of the factors of production, while in a market economy supply and demand determine production and allocation decisions.
There really are no significant differences between a command economy and a market economy.

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A command economy relies on ce...

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