The Difference Between Market, Mixed and Economic System Essay examples

797 Words Sep 20th, 2008 4 Pages
The difference between: Market, Mixed and Economic System

This essay talks about three different types of economies system. The market economy, the mixed economy and the command economy system. I will start by defining each system and how the society has implement either one of them into their system.

A market system is defined by an economic system in which economic decisions, such as specialized production, distribution and the freedom to exchange among individuals use the market mechanism to determine the pricing of goods and services which are guided solely by the aggregate interactions of a country 's citizens and businesses which causes a minimal government intervention or central planning on the economy. Market economies work
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In here we can see how the government dominates the direction of the entire macro- economic policy and the entrepreneurial activity and how the market force is not allowed to do so at any considerable degree. (Business Dictionary)It only allows some freedom for economic decisions about employment and consumption at the household level. In other words, there is state control of the factors of production and centralized state planning, meaning what to

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