The main difference between Capitalism and Command economy is that capitalism modulated private enterprises where businesses are owned by private individuals while command economies have public enterprises where the govt monitors things including businesses and production.
What is Capitalism?
Capitalism is an economic system based on the private ownership of the means of production and their functions for profit. Central features, of capitalism, include capital accumulation, competitive markets, price system, private property, property rights recognition, voluntary exchange, and wage labour.
What is production?
The procedure of making products from raw products, but production also has economic value because it is creating a result which has a value and will propitiate human wants and needs is called production.
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