Select two statements for each economic system that best reflects their policies.
The government decides how much of an item should be produced Legal policies are put into place that control prices. Business owners make decisions about how to run their companies. Prices are set by supply and demand.
Command Economy
Market Economy
Command Economy
Market Economy
Command Economy:
- The government decides how much of an item should be produced
- Legal policies are put into place that control prices.
Market Economy:
- Business owners make decisions about how to run their companies.
- Prices are set by supply and demand.