In today’s world economy plays an essential role in our life. There is a point of view that the best type of economic system is market economy. But there is still a group of people who are sure that command economy is better.
As for me I am firmly convinced that market economy has a lot of advantages. Firstly, employees have an incentive to work more efficiently, because if they work better, they will earn more money. Secondly, there is a great competition between different companies. So, goods and services cost less, but the quality of them is much better. Finally, it is a well-known fact that entrepreneurs can decide what to produce and how to produce goods and services. But in command economy, they can’t do it.
But not all people agree with me. They are sure that planned economy makes our lives better, because there is no unemployment. But I should say that one of the worst aspects of command economy is planning, because companies can’t react on people’s demand very fast.
To sum it up I would like to say that nowadays the majority of countries have market economy. It has a lot of advantages that overweight disadvantages.
