What Is the Difference Between a Command Economy and a Market

question 23

Short Answer

What is the difference between a command economy and a market economy?
A command economy is found only in communist countries, while a market economy is found only in capitalist countries.
A command economy is more efficient than a market economy.
A market economy gives greater "life satisfaction" to people.
A command economy relies on centralized government control of the factors of production, while in a market economy supply and demand determine production and allocation decisions.
There really are no significant differences between a command economy and a market economy.

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Definitions:

Psychoanalytic

Pertaining to a theory of psychology that emphasizes unconscious psychological processes and childhood experiences in shaping behavior and personality.

Behavioral Views

Perspectives that emphasize external behaviors and the ways in which they are influenced by the environment.

Integration

The process of combining different methods, theories, or systems into a comprehensive whole, especially in psychotherapy, to enhance therapeutic effectiveness.

Eclecticism

The approach of making use of various theories, systems, or philosophies in an attempt to find the most effective approach for a client's needs.