which of these economic systems have the least in common?\na) market economy and capitalism\nb) command…
which of these economic systems have the least in common?\na) market economy and capitalism\nb) command economy and socialism\nc) command economy and capitalism\nd) free - enterprise economy and market economy
Answer
Brief Explanations:
- Option A: Market economy and capitalism are closely related. Capitalism is an economic system where private individuals or businesses own capital goods, and it often operates on the principles of a market economy (supply - demand driven).
- Option B: Command economy is often associated with socialism. In a socialist - inspired command economy, the government makes major economic decisions (e.g., what to produce, how to produce).
- Option C: Command economy is a system where the government centrally plans economic activities. Capitalism is based on private ownership and market forces. They have fundamental differences in terms of ownership (public vs private) and decision - making (centralized vs decentralized).
- Option D: Free - enterprise economy is similar to a market economy. In a free - enterprise system, businesses and individuals are free to operate with minimal government interference, which is a key aspect of a market economy.
Answer:
C. command economy and capitalism