Questions: In a capitalist economy, mechanism determines how resources are allocated. In a command economy, most property and resources are by the government. The price of goods in a free-market system is determined by the of supply and demand. No economic system is ; each has its own set of advantages and disadvantages.

In a capitalist economy, mechanism determines how resources are allocated.
In a command economy, most property and resources are by the government.
The price of goods in a free-market system is determined by the of supply and demand.
No economic system is ; each has its own set of advantages and disadvantages.

Transcript text: In a capitalist economy, mechanism determines how resources are allocated. In a command economy, most property and resources are by the government. The price of goods in a free-market system is determined by the of supply and demand. No economic system is ; each has its own set of advantages and disadvantages.

Solution

In a capitalist economy, the market mechanism determines how resources are allocated. In a command economy, most property and resources are owned by the government. The price of goods in a free-market system is determined by the forces of supply and demand. No economic system is perfect; each has its own set of advantages and disadvantages.

Was this solution helpful?

Unhelpful

Helpful

Questions asked by other users

Next >

Thank you for your feedback.

Copied!