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- In a command economy, the government controls everything, like factories and farms. In a market economy, businesses and people decide what to make and buy. Most countries have a mix of both, called a mixed economy.
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Learn about about two types of economies: command and market. In a command economy, the government controls everything, like factories and farms. In a market economy, businesses and people decide what to make and buy. Most countries have a mix of both, called a mixed economy.
- 10 min
- This is the first video in the Khan Academy series that annoyed me somehow so far. It is because it ...I can answer that, command economies still exist because their governments are historical dictatorships, and I know it because I came from one of t...
- Is there any kind of profit in a command economy as all of the products and money is equally distrib...That's why there is no incentive for government workers and people in general. If you're not going to be making more money, or a profit, then 'what...
- If things such as inequality, poverty, etc occur in a market economy, why don't all of us shift towa...This was the line of thought for many but such things also occur in command economies. Despite being advertised as equal and fair, the reality ends...
- okay so we're know that command economy aren't really good, so why are they still exist?It depends on what you mean by "good", because that depends on the objective of a society. Also, "good" is a normative statement. We try as best we...
- So, it's my understanding that communism is an anarchist ideology, as in, communists want no governm...Interesting question. The only examples we've had thus far of a communist governments or nations working towards it all involve the utilization of...
- Do you think that the inequality in a market economy is easier to accept when the inequality comes f...This is a fairly personal spectrum, yes the government would bail out the banker but not necessarily make him richer. His mistakes aren't an inequa...
- I'm sadly disappointed about how the contents of this video were deliberately misconducted all over ...To counter your point of him expressing opinions as fact, when he says "If you are manager here and you get a better way of doing this you get no r...
- I have two questions 1. What is the difference between a market economy and capitaism? 2. What is th...Capitalism is a form of market economy, same as socialism and communism are forms of command economies. A fork is a kind of utensil, same as commun...
- So What is China"s Economy.It seems both not Command Economy and not Market EconomyContemporary China has a capitalist mode of production. Under Mao it was considered Marxist-Leninist but as Melanie pointed out it is more market o...
Oct 16, 2023 · A command economy, or a planned economy, is where the big decisions are made at the centre by the government. In an economic system the main decisions are, for example, allocating resources like labour, capital and oil. Prices, too, are controlled.
00:00 • Introduction - Understanding "Command Economy": An Easy Guide for English Learners00:32 • What is a Command Economy?00:58 • Characteristics of a Comm...
- Introduction to An Economy For Kids and Teens
- What Is An Economy?
- Are There Different Types of Economies?
- What Factors Should I Consider to Evaluate If An Economy Is Healthy?
This video explains the concept of an economy in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about economies, or used as a money & personal finance resource by parents and teachers as part of a Financial Literacy courseor K-12 curriculum. Suitable for students from grade levels: 1. Kindergarten 2. Element...
An economy is a collection of all the goods and services produced, consumed, and distributed in a specific area – such as a country, state, or city. For example, the US economy includes goods and services that are produced, imported, distributed, or used by the people living in the US, American companies, or the US government. Goods are physical th...
There are 3 main types of economies. Market or market-based economies use the ‘free market’, where businesses and people can buy and sell goods and services at prices determined by supply and demand, without interference from the government. Command or command-based economies, also called socialist economies, are where the government controls the p...
Generally, a healthy economy is one where there are lots of well-paying jobs, businesses are thriving and the overall economy is growing. But there are some specific factors – called economic indicators – that can help determine how well a country’s economy is doing. GDP – or Gross Domestic Product– is the value of all goods and services produced i...
Command or Planned - A command economy is one where the government closely controls the economy. The government determines what goods are manufactured, the price they will be sold, and who gets the profits.
Short Summary. A command economy is a system where the government has total control over the economy it reigns over. Characteristics of this economy include governmental...
