Market economy
Does market economy have a government control
There is little or no government control.
Does command economy have government control?
Yes, a command economy is defined by a total or near- total government control over all economic activity, including what's produced, how much, and at what price.
Does Traditional economy have government control?
No, a traditional economy has little to no government control: it's guided by custom beliefs and survival.
What type of businesses does the market economy have?
Most businesses are privately owned, and buyer and sellers set prices.
What type of businesses does Command economy have?
Businesses are still privately owned, but the government plays a strong role in providing services.
What type of business does a traditional economy have?
Businesses centered on subsistence, customs, and family roles,
Which one leans more toward the market side. (Russia, Germany, or United Kingdom)
The United Kingdom have a mixed economy but leans more towards the market side.
What leans more toward Command economy? (Russia, Germany, or United Kingdom)
Germany leans slightly to the command side, but Russia leans heavily toward the command side.
What leans more towards the Traditional economy? (Russia, Germany, or United Kingdom)
Russia leans most toward a traditional (or command), due to significant state control over major large industries, like oil and gas.
Do people have freedom in a market economy?
Participants are free to produce, sell, and purchase goods and services, as well as choose their profession and investments.
Do people have freedom in Command economy?
No, the government chooses all major economic decisions, prices, jobs, and resources.
Do people have freedom in traditional economy.
People in a traditional economy have limited economic freedom.