market vs planned economy

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Title: market vs planned economy

Essay Details:

Subject: Social Issues

Author:

Date: December 2, 2015

Level: University

Grade: A

Length: 3 / 642

Essay text:

Both have their good points and their bad, but, each is aimed towards a community that will make use of it. In a market economy, the advantages are normally aimed towards the middle/upper class in a community. The concept of a market economy is to allow people to get through life by themselves. People have the ability to make as much money as they can and do what is in their best interest. The whole system revolves around freedom and private gain where in a planned economy, the system is based upon government control and equality among everyone in a community. The key decisions of what products to produce, how the products are going to be produced, and for whom they are going to be produced are the suppliers prerogative unlike the case of the centralized economy...

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