Topics: Capitalism, Market economy, Mixed economy Pages: 3 (830 words) Published: December 19, 2012
Corey primavera
Everyone asks whether a free market economy or a command economy is better. Well both of these economies have their advantages and disadvantages. Each of these types of economies has its own unique positives and negatives. It may seem like one economic system is better than another, but it all depends on what the viewer deems important. A market economy allows customers to have many products to choose from and make the choice based on its design, while a command economy eliminates that ability due to little or no business competition. In recent years, market economies have been coming more and more popular. Three major examples of market economies are The United States, Japan, and France. One major advantage is that market economies can adjust to change easily. If there is a demand for one thing, companies have the ability to change what they produce instead of having to go through too much government protocol first. Rational self interests in market economies are also encouraged. People have the ability to make as much money as they can and do what is in their best interest. Another positive to market economies is that the government tries to stay out of the way of businesses. Although the government sets certain standards businesses must follow, for the most part businesses can do as they please, allowing them to produce what they want, how they want. A fourth advantage to the market economy is that there is a great variety of goods and services for consumers. If there is a demand for a good or service, the demand will almost always be met in a market economy. Although there are a lot of positives to market economies, there are also many negatives that go along with it too. One major problem with this type of economy is that it doesn’t always provide the basic needs to everyone in the society. The weak, sick, disabled, and old sometimes have trouble providing for themselves and often slip into poverty. Another problem is that it becomes hard...
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