Market Economy In a market economy it works with individual and almost no government. The market economy is all about individuals and the businesses in an economy. In this system the prices of goods and services are made by individuals and businesses. A market economy is the complete opposite of a command economy.
There are many advantages of a market economy. People can go and be entrepreneurs or make more money than others by working harder. Another thing about a market economy is that individuals can set their own prices and there is competition with other businesses. Although there is some advantages, there is a couple disadvantages. For example of someone goes out and takes a risk by starting their own business, they could take a …show more content…
Instead of the people controlling the market it the government. The government has control of all of the product. They get to decide on what is produced, how much of something is produced, and what the price of it is. Every communist government has a command economy to come with it. This is an economy where the government controls everything else as well, it’s not only the market that is regulated. The government chooses how much people make and what kind of car or house someone has.
There are some advantages and disadvantages of a command economy. An advantage to a command economy is that it is hard for someone to fail. Everyone gets a job, car, house, and makes a certain amount of money a year. The government sets it all up for their people. One other good thing is that no one is different so there's no criticizing one another. Some disadvantages are that you may work harder than someone else and make the same amount of money as them. One last thing is that if someone takes a risk and it succeeds you couldn’t even try.
Karl Marx was around in the 1800’s and he was a guy who looked at communism in a good way. Marx seen two types of people, the haves, and the have nots. He seen the haves as capitalists and the have nots as the workers who were forced to work for the haves. Marx’s goal with communism was to have everyone equal and make it so no one was a haven or a have not. Marx wanted to make sure everyone was
There are many advantages of a market economy. People can go and be entrepreneurs or make more money than others by working harder. Another thing about a market economy is that individuals can set their own prices and there is competition with other businesses. Although there is some advantages, there is a couple disadvantages. For example of someone goes out and takes a risk by starting their own business, they could take a …show more content…
Instead of the people controlling the market it the government. The government has control of all of the product. They get to decide on what is produced, how much of something is produced, and what the price of it is. Every communist government has a command economy to come with it. This is an economy where the government controls everything else as well, it’s not only the market that is regulated. The government chooses how much people make and what kind of car or house someone has.
There are some advantages and disadvantages of a command economy. An advantage to a command economy is that it is hard for someone to fail. Everyone gets a job, car, house, and makes a certain amount of money a year. The government sets it all up for their people. One other good thing is that no one is different so there's no criticizing one another. Some disadvantages are that you may work harder than someone else and make the same amount of money as them. One last thing is that if someone takes a risk and it succeeds you couldn’t even try.
Karl Marx was around in the 1800’s and he was a guy who looked at communism in a good way. Marx seen two types of people, the haves, and the have nots. He seen the haves as capitalists and the have nots as the workers who were forced to work for the haves. Marx’s goal with communism was to have everyone equal and make it so no one was a haven or a have not. Marx wanted to make sure everyone was