Command System vs Market System
Government Paper
4/2/2014
The Command System vs The Market System
The majority of this world’s economy is dominated by two types, the Command System and the Market System. The command system is a command economy that is publicly owned and is controlled by a central authority. The market system is a market economy where there is free competition and prices are determined by the interaction of supply and demand. The market system is popular within the United States, while the command system is ranked at the top for countries like China and North Korea. What does this mean for the two economical systems? The Market System is any systematic process that enables marketers to bid and interact with sellers to make deals without any authority putting a pause on any transactions. Anyone can be regularly involved in the market system. The freedom to roam allows inequality within the system, you have the elite and you have the lower half. This generates free competition for citizens, businesses, firms, and other industries, the competitiveness gains assets for the governmental economy. More so, the government sponsors events that involve the market system, so to benefit from this is just what the economic system needs to be successful.
The United States is the champion of the market system; this is the only country that successfully makes this idea work. The individual innovation is what this country symbolizes, the free ability to accomplish personal desires and financial growth. The system achieves from the peoples’ actions as well, when a new product is created, it usually starts out at a high price, once it is in the market for a period of time, and other companies begin to copy it. This makes the price go down as new products emerge that are similar. In a competitive market, the poor versions of the product or the overpriced will be pushed out of the market because consumers will reject them, making it a success for the marketers in the middle. The Command
4/2/2014
The Command System vs The Market System
The majority of this world’s economy is dominated by two types, the Command System and the Market System. The command system is a command economy that is publicly owned and is controlled by a central authority. The market system is a market economy where there is free competition and prices are determined by the interaction of supply and demand. The market system is popular within the United States, while the command system is ranked at the top for countries like China and North Korea. What does this mean for the two economical systems? The Market System is any systematic process that enables marketers to bid and interact with sellers to make deals without any authority putting a pause on any transactions. Anyone can be regularly involved in the market system. The freedom to roam allows inequality within the system, you have the elite and you have the lower half. This generates free competition for citizens, businesses, firms, and other industries, the competitiveness gains assets for the governmental economy. More so, the government sponsors events that involve the market system, so to benefit from this is just what the economic system needs to be successful.
The United States is the champion of the market system; this is the only country that successfully makes this idea work. The individual innovation is what this country symbolizes, the free ability to accomplish personal desires and financial growth. The system achieves from the peoples’ actions as well, when a new product is created, it usually starts out at a high price, once it is in the market for a period of time, and other companies begin to copy it. This makes the price go down as new products emerge that are similar. In a competitive market, the poor versions of the product or the overpriced will be pushed out of the market because consumers will reject them, making it a success for the marketers in the middle. The Command