The essential difference between a command economy and a market economy lies in _____.

Name: The essential difference between a command economy and a market economy lies in _____.
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In a command economy, the government or central authority owns or controls the resources and makes all decisions regarding their use. In contrast, a market economy is characterized by private ownership of resources and decisions about their use are made by individuals and businesses based on market conditions.

The Essential Difference Between a Command Economy and a Market