Economic Institutions

Question

Which economic system has the least opportunity for change?

 

Which economic system gives the government the most power in economic decisions?

 

Which economic system gives individuals the most freedom?

 

 

market economy, mixed economy, command economy 

Answer 1

I agree with Marilyn on the second and third. I am not disagreeing with her on the first, but it could also be argued that the market economy could have the least opportunity for change because it is controlled by supply and demand, which could be more difficult to change because of so many individuals in the process. The command economy has fewer parties and could change quicker and easier. This is especially the case when there is a divergence between social interest and self-interest, especially when firm profits are involved.

 

Just my 2 cents :). 

Answer 2

Command economy has least opportunity for for change

A command economy gives government the most power in economic decisions

Market economy gives individuals the most freedom