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The essential difference between a market economy and a command economy is the way that resources are allocated. In a market economy, allocations result from
The essential difference between a market economy and a command economy is the way that resources are allocated. In a market economy, allocations result from individuals making decisions as buyers and sellers. In a command economy, resources are allocated by a central authority. This idea may seem abstract, so remember that you make allocation decisions every day at home and at work. For example, who is going to take out the trash? Who is going to pick up the extra shift the manager wants covered? Those are both decisions how about how best to allocate different responsibilities. Write two paragraphs in which you compare the methods used to allocate work responsibilities in homes with those used to allocate work responsibilities in business
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