Compare And Contrast Command And Command Economy

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The economic system contains the four major economies called the traditional economy, command economy, market economy, and the mixed economy. The traditional economy is known to be the oldest economic system in use, still being used in areas of Africa, Asia, and South America. Traditional economies sort their affairs the way that culture has always done it, hence the title traditional. These affairs stay within the family business, which most of them are agriculture related. Economic progression is slim to none because this way of economics drives their way of life for example, what you produce in your crops, you consume, there are hardly any selling in that business because the farmers only produce enough crops to keep their families alive. …show more content…
In this command economy, efforts are devoted to the goals that are passed down from a type of ruling class. For example, during medieval times, the lord of the land would provide land in exchange for labor and soldiers for the Lord's bidding. In this type of economy, the chain of command has control over what is to be done concerning usage of labor, land and time, hence the title command. In the present day, the type of government that still uses the command economy are countries that operate under a communistic government, including countries like North Korea and Cuba. In a command economy, the people have less choice on what can be negotiated when it comes to pricing and selling, in fact, they have no choice. With Communism, the government has power over all of the item pricing, selling and production. The people provide labor for wages that the government sets in place. On the other side of the story, healthcare and education is free, but the education is set by the

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