QUESTION IMAGE
Question
drag the tiles to the correct location on the table.
distinguish between the characteristics of a market economy and a command economy
japan is an example of this economic system. private ownership of land is limited or prohibited. consumer demand drives production decisions.
government sets prices of goods and services.
market economy command economy
Brief Explanations
- Market Economy: In a market economy, consumer demand (buyers' wants) influences what is produced (production decisions). Japan has a market - based economic system. Also, private ownership is a key feature, but here the relevant tiles are "Japan is an example of this economic system" (Japan has a market economy) and "Consumer demand drives production decisions" (a core market economy trait where businesses produce what consumers want to buy).
- Command Economy: In a command economy, the government has significant control. So "Private ownership of land is limited or prohibited" (government - controlled ownership) and "Government sets prices of goods and services" (government controls pricing, not market forces) are characteristics of a command economy.
Snap & solve any problem in the app
Get step-by-step solutions on Sovi AI
Photo-based solutions with guided steps
Explore more problems and detailed explanations
| Market Economy | Command Economy |
|---|