What are some of the ways that people benefit from an economy that moves away from a command economy and more toward a socialist or market economy?

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Skyler

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26 July, 01:58

What are some of the ways that people benefit from an economy that moves away from a command economy and more toward a socialist or market economy?

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Kendra Daniel · Answer 1

The benefits for the people by moving from command towards socialist, or even better towards a market economy, are that they will get bigger power and also larger market.

The people will have more power in their hands as they will be able to have their own businesses, make their own decisions about it, and make bigger income.

Also, the market will be open, so the people will be able to sell their goods in multiple places, thus getting better offers, and earning more from it.

The competition in the labor force will increase, as the more qualified workers will be preferred as they are more productive, so the labor force will be more efficient, and be able to earn more as well.