free market
does the govt. control production in a free market
No
do command economies let the people control the production of goods
No, they do not. the government controls all production of goods.
what economy does the US have
the US has a free market/economy
what does the govt. control in a free market
Nothing
what is a command economy
a command economy is an economy in which the govt. controls the buying and selling of goods
what type of economy does North Korea have
North Korea has a command economy/market
what is a free market
it is a market where the people control the selling and buying of goods, and the govt. doesn't control anything
How does it work
The government has the majority of control over production and pricing, with little to none private control.
does Australia have a free market economy
yes Australia has a free market type of economy
How does it work
The free economy works by letting the people control how much things cost, when to put stuff on sale ect ect
what does the command market control in production
the command market controls the pricing of goods
is Switzerland free or command
Switzerland along with the majority of the Scandinavian countries are free
do any countries have a true free economy?
NO
Government officials make decisions regarding what (two ex.)
economic growth
resource allocation
output distrabution
what type of economy does china have
China has a mix of both but considers itself as a communist.