Economics, Capitalism, and Command Economy Assignment

Economics, Capitalism, and Command Economy Assignment Words: 295

To make it even better, John has employee training to show the employees how to do exactly what he does… Roll A BUSINESS! If Papa John decides to advertise a special deal on pizza or offer a free incentive, he can do that because he is in control of the decision making process for his business, not the government. Command Economy is a system where the government, rather than the free market, determines what goods should be produced, how much should be reduced and the price at which the goods will be offered for sale.

The command economy is a key feature of any communist or socialist society. Command economies are progressively becoming extinct. Currently, Saudi Arabia, Iran, Libya, and Burma have this type of trade and industry system. With this type of economy, the people are all soldiers, waiting to be told what to do, how to do it, and when it should be done. The needs of the people remain irrelevant, while the government is content with treating its people like slaves. Capitalist and command economies are similar in that they both have the people involved in the production of the goods.

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Neither system appears to be denying its people the opportunity for employment. The two systems differ in that the capitalist society is based on the people working for themselves to produce what they need to survive. This type of system does not put limitations on the price of goods offered nor does it determine how much and what should be produced. On the other hand, the command economy is like a big bully. What if people want to run their own business and sell, reduce, and make goods at a cheaper price?

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Economics, Capitalism, and Command Economy Assignment. (2019, Apr 19). Retrieved November 30, 2021, from https://anyassignment.com/social-science/economics-capitalism-and-command-economy-assignment-49889/