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Answer:

Market economies are characterized by their free markets. Examples are the United States and the United Kingdom.

  • That's pretty clear. What it means is that they trust in the free market and its operation to answer the questions of what to produce, how much to produce, and for whom.

Command economies are characterized by their control of markets. Examples are China and North Korea.

  • They rely on the government, not the free market itself, to control what should be produced. This makes for a more strict system that can pay off in the long run, but can also run the risk of being heavy-handed.

27epiccione

Answer:

.The one who answer the three economic questions in free market system is the Free Enterprises.

- What to produce

- For whom we produce it

- How to produce it.

All of these questions would be analyzed by the free enterprise based on the demand and supply in the market, so they could come up with appropriate product that they could turn into profit.

2. The difference is that in a command economy, the Government is the one that answers all three questions.

In a command economy, the Government obtain total control on all the resources in the country, so private citizens basically do not have any say in all economic matters.

Explanation:

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