Characteristic Traditional Command Market WORD BANK 9) Who owns the Everybody factors of Individuals production? Central government 10) What is the role of Laissez-faire government? No government exists Controls everything 11) How are prices There are no prices determined? Centrally planned Supply and demand 12) What incentives Profit motive exist for people to Good of the state work hard? Good of the group 13) Do the people No freedoms enjoy economic Unlimited freedoms freedoms? Obey cultural norms 14) How equally is A few elites income distributed A few wealthy elites among the people? Mostly just poverty