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More advantages and disadvantages

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Disadvantages

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here are advantages

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here are pro's and con's

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This is citizens and the government wants to take care of them

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This is dealing the command economy with money

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This is command economy income

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Another disadvantage is lack of Competition. Inhibits Innovation

Critics argue that the inherent lack of competition in command economies hinders innovation

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A disadvantage is inefficiency.

Efficiency is also compromised when the government acts as a monolith, controlling every aspect of a country's economy.

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An advantage is Less Inequality

Because the government controls the means of production in a command economy, it determines who works where and for how much pay.

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The government's primary goal is not to make a profit. Instead, it aims to take care of its citizens by giving them free or subsidized education, housing, and healthcare.

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You cannot invest your money, as the government owns almost everything, including land.

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The government has a plan, which it uses to give orders to industries. The government also regulates people's incomes.

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Here is the command economy

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A command economy is where the government owns all resources, sets prices, and tells businesses what and how much to make

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This is the agriculture

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Agriculture employed at least 41% of the workforce. But they used poor farming techniques to meet high demand following World War I. That led to the Dust Bowl once 10 years of droughts hit.

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This is the economy back then

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America had traditional economies before the immigration of Europeans beginning in 1492.

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Here are some disadvantages

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A disadvantage is that Traditional economies are exposed to changes in nature, especially the weather.

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These are more disadvantages and advantages.

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Another advantage is that traditional economies understand that it's what has kept society together and functioning for generations.

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Here are advantages and disadvantages

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An Advantage is Since traditional economies are small, they aren't as destructive to the environment as developed economies.

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This is a photo of the Mixed economies and comparing them

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Traditional economies can have elements of capitalism, socialism, and communism. It depends on how they are set up. Agricultural societies that allow private ownership of farmland incorporate capitalism.

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These are the 5 characteristics

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5 Characteristics of Traditional Economy 

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5 Characteristics of Traditional Economy 

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Family or tribe, Hunter gatherer and nomadic society, Produce only what they need, they rely on barter, start to evolve

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This is a photo of the definition.

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A traditional economy is a system that relies on customs, history, and time-honored beliefs.

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This is different types of Pure Market Economy

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Another disadvantage is that a society based on a pure market economy must decide whether it's in its larger self-interest to care for the vulnerable

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These are Disadvantages.

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A disadvantage is that society reflects the values of the winners in the market economy. A market economy may produce private jets for some while others starve and are homeless.

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This is storage for goods

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Another advantage is that goods and services are produced in the most efficient way possible. The most productive company's  will earn more than less productive ones.

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These are desired goods

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One particular advantage of The Market Economy is Since a market economy allows the free interplay of supply and demand, it ensures that the most desired goods and services are produced.

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This is just a photo to show The Market Economy and that money is involved

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Market Economy isn't just briefly one thing. The Market Economy actually has 6 Characteristics which are Private Property, Freedom of choice, Motive of self interest, Competition, Systems of Markets and Prices and Lastly Limited Government.

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This is the different types of Economy.

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Market Economy's mostly evolve from Traditional Economy's.

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This is a cartoon image of free Market Capitalism.

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Capitalism requires a Market economy to set prices and distribute goods and services.

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This is a photo of the Characteristics of a Market Economy

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A Market Economy is a law of supply and those of demand direct the production of goods and services.

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Another advantage this power structure contrasts sharply with a free market economy, in which private companies control the means of production and hire workers based on business needs, paying them wages set by invisible market forces.