Market Economy Vs Command Economy Essay
Economies are different throughout the world. Many countries have decided on similar economies to other countries. Two of these economic systems are market and command economies. These two economies are the two most common economies throughout the world, and are often compared and contrasted amongst countries.
The first economy is known as a market economy. This economy is generally ruled by the people. The decisions of everyday civilians affect the economy daily, and can quickly change due to this. In the world today, market economies exist in places such as Hong Kong and the U.S.A. These nations and cities have actually flourished in terms of economic wealth. One example why is also a major benefit to the economy. The motivation that people …show more content…
The argument still persists of which economy is better. These economies both try to look after their people in different ways. The command economy is more of a direct supervision of its people. It is similar to how a parent watches over a child. The government tries the best to ensure safety in the economic world for their civilians just like a parent protects their child. On the other hand, a market economy is similar to the moments of a bird. When the bird reaches a certain point, they must take a leap. This leap will either kill them, or let them prosper. The market economy is similar since individuals must take the risk to be successful. The risk though, even if possible, may not end as badly we’d like to think. Thousands of businesses flourish in these markets, all because of the risks people have taken to get there, and only some didn’t “flap their wings” like the bird should. This risk pushes people to do their best, so they can prosper like they want. Both economies try to help the very people of the nation, but because of the markets economies risk, there is also great prosperity. This is the very thing that command economies do not
The first economy is known as a market economy. This economy is generally ruled by the people. The decisions of everyday civilians affect the economy daily, and can quickly change due to this. In the world today, market economies exist in places such as Hong Kong and the U.S.A. These nations and cities have actually flourished in terms of economic wealth. One example why is also a major benefit to the economy. The motivation that people …show more content…
The argument still persists of which economy is better. These economies both try to look after their people in different ways. The command economy is more of a direct supervision of its people. It is similar to how a parent watches over a child. The government tries the best to ensure safety in the economic world for their civilians just like a parent protects their child. On the other hand, a market economy is similar to the moments of a bird. When the bird reaches a certain point, they must take a leap. This leap will either kill them, or let them prosper. The market economy is similar since individuals must take the risk to be successful. The risk though, even if possible, may not end as badly we’d like to think. Thousands of businesses flourish in these markets, all because of the risks people have taken to get there, and only some didn’t “flap their wings” like the bird should. This risk pushes people to do their best, so they can prosper like they want. Both economies try to help the very people of the nation, but because of the markets economies risk, there is also great prosperity. This is the very thing that command economies do not