which events would be more common in a command economy than a market economy?
In a command economy, where the government controls the means of production and distribution, some events that would be more common than in a market economy include:
1. Centralized decision-making: The government or a central planning authority makes key economic decisions such as what goods and services are produced, how much is produced, and at what price.
2. Price controls: The government sets prices for goods and services to prevent inflation or ensure affordability for consumers. This can lead to shortages or surpluses of certain products.
3. State ownership of key industries: In a command economy, key industries such as utilities, transportation, and healthcare are often owned and operated by the government. This can lead to inefficiency and lack of competition in these sectors.
4. Lack of consumer choice: In a command economy, consumers may have limited options for goods and services as the government dictates what is available in the market.
5. Limited entrepreneurship: In a command economy, the government controls most aspects of the economy, limiting the opportunities for individuals to start and grow their own businesses.
Overall, events in a command economy are more likely to be influenced and controlled by government intervention and regulation, compared to a market economy where decisions are driven by supply and demand and competition.