Essay Database

The Planned Economy which is the economy that the government "organises" is very different from the Free Market Economy where the private sector is in charge and owns firms etc... The planned economy is better in the sense that people are less stressed due to not having to worry about their next meal or other, due to the government supplying their basic needs like housing, medical care, food, clothes, education, a job, so nobody is …

…trying to produce either more at a better quality for a lower price or just trying to be better than somebody else, and selling your better quality goods. This is good because their is a variety of choices and better quality good than their would be in a planned economy because in a planned economy everything is the same for everybody. I believe that the better economy is the Free Market Economy is more challenging.