In the process of transitioning from a command economy to a mixed economy, These are centrally-planned economies that also incorporateĮlements of market economies, which are governed by laws of supply and demand. Next section), many of these economies have transitioned to mixed economies in Problems with the market economy include lack of inherent emphasis on social welfare, the likelihood of wealth and income inequality, and abuse of monopoly power.Įxamples of command economies both historically and today (described in the
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