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Command Economy Vs. Capitalism Economic System

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There is a major difference between a command socialist economic system and a capitalism economic system. A command socialist country is where the government controls the goods and services that is being produced and bought, whereas a capitalist is the people control what is being bought and produced. There are advantages and disadvantages for both of these types of governments.
In command economies the government controls pretty much everything. For example, Chinas economy is controlled completely by their government. Student’s grades and test scores result in what they are going to do the rest of their life for work. One advantage to this is is insures that everyone will have a job. China has the fastest growing economy in the world. China has the largest manufacturing economy in the world because the government regulates the pay for people which …show more content…
The people create supply and demand with little government involvement. An Example of a market economy is the USA. People move to the US because we make it is so easy to start your own business and produce your own goods and pay your workers anything from minimum wage and up. This is called being an entrepreneur. Quality of life depends on what I put into the economy. The USA has one of the strongest economies in the world. People produce the goods, people buy them, and the sellers make money and then spend their money on goods. It is a never ending flow, which is what makes our economy so great. Competition keeps the economy booming creating greater efficiency. For example, if one company is selling really cheap low quality products that force you to buy it over and over again, sooner or later the company that sells high quality more expensive products will win in the end because people learn quality is better, and they only have to buy it once. A disadvantage to a market economy is that not everyone can find

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