User:00nnyyxx/sandbox

A command economy is where the government has complete control over the production and workings of the whole country while a market economy is where individuals have full control of the marketplace. In the command economy, the government has control of the prices and wages, but in a market economy the individual that owns the company gets to choose the wages and supply based on customer demand.

In command economy systems, the government makes all the important economic decisions. Socialism and communism, which is a form of socialism, are command economies. In a command economy, the government is in control of the country's economy. All the country's resources are owned by the government, not by individuals, so the government decides what goods will be produced based on what they think the country needs. The government also chooses what the factories produce, the resources that will be needed, how the product will be produced, the rate of production, and the cost of the finished product. The goal of a command economy is to make all people in a society more financially equal. The idea is that everyone does their share of labor, and then the products are distributed according to what the population needs. In a command economy, production is determined by the government's goals rather than other peoples. The government doesn't just decide what products are produced; they also determine the jobs people do, and how much people are paid for doing these jobs. Despite the claims of equality in command economies; most people live in relative poverty. Socialism and communism, which is a form of socialism, are command economies.

The government's role is limited in market economic systems. In market economies, the basic economic decisions are made by individuals and businesses. People working in market economies can choose their jobs. Prices are set according to what businesses believe their customers will pay. The rules of supply and demand are the basis for economic decisions. Industries are free to increase or decrease prices based on the demand for a product. In other words, the goods that are made are those that business believes the customer wants and will buy. Goods are produced in the quantities that business believes are appropriate. They want to produce enough to satisfy customer demand and to justify keeping the price high enough so a product can be sold for more than the cost to make It. Other names for market economies include capitalism, unplanned economies, free market economies, or free enterprise systems.

In conclusion It affects the worker’s life in a command economy by controlling every aspect of the production and workings in the economy. It also affects the worker’s life in a market economy by letting the worker have the free range to set prices, wages, etc. rather than having It controlled and set for the person.