Economic systems:

Command system:

  1. 1. What?

Decided for the ppl by the govt.

  1. 2. How?

Directives issued by the govt. Quotas are assigned.

  1. 3. Who?

Based on need & equality.



Market system:

  1. 1. What?

Decided by the consumer. Regulated by the rules of supply & demand. Pure self-interest allocates resources.

  1. 2. How?

Decided by businesses.

  1. 3. Who?