Quantcast

A community for students. Sign up today!

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

Jenn777

  • one year ago

Write a short essay in which command economies and and market economies affect a workers life HELLLLLLLP!!! MEDALS YALL MEDALS!! LOL :)

  • This Question is Closed
  1. order
    • one year ago
    Best Response
    You've already chosen the best response.
    Medals 1

    You need to know what a command economy and what a market economy is, and how these two economies can affect different types of workers. A command economy is one where the government has complete control over the production and workings of a country (e.g. allocating resources, determining wages, prices and having control over most productive production sites and buildings. A market economy is one where the market or private individuals have complete control over the market place, e.g. the economy is run by the price mechanism, and individuals own and run productive businesses, letting the market determine wages and prices due to demand and supply. Now you know what those two are, you can also classify workers, e.g. into different paid wage/salary jobs. High earning, medium-earning and low-earning workers' wages. A command economy generally tries to keep the distribution of income at a sustained, equal, fair level (i.e. noone earns more than another person... even though the wage level may not be too high)... This may make the low-earning workers earn slightly higher than what they used to, and the high-earning workers less than they used to, or that they can, and so people who think they have the ability to earn more may not like the command system, and people who think they can't earn a lot, but can because of goverment provision, may now be happier and feel equal.. A free market serves for "fight of the fittest", and the ones who can earn most or are privileged enough to earn wages have a much higher income than the low-earning workers, and so income distribution is spread. The high earning workers will be happy with this, and the low-earning workers will think it unfair and may be impoverished... You add your own ideas and research onto this. Hope this helped!

  2. Not the answer you are looking for?
    Search for more explanations.

    Search OpenStudy
    • Attachments:

Ask your own question

Ask a Question
Find more explanations on OpenStudy

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.