Question

What are the difference between a market and socialist economic system?

Answer 1

The production of goods and services is based on supply and demand in the general market. This economic structure is referred to as a market economy. In a socialist economic model, the production of goods and services is either partially or fully regulated by the government.

Step-by-step explanation:

Answer 2

The production of goods and services is based on supply and demand in the general market. This economic structure is referred to as a market economy. In a socialist economic model, the production of goods and services is either partially or fully regulated by the government.

Step-by-step explanation: