BACK TO market economy

market economy vs. command economy

[ mahr-kit i-kon-uh-mee ]
  1. a capitalistic economic system in which there is free competition and prices are determined by the interaction of supply and demand.
[ kuh-mandi-kon-uh-mee ]
  1. a socialist economic system in which production and distribution of goods and services are controlled by the government and industry is mostly publicly owned.

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