A market system is characterized by the private ownership of resources and the use of markets and prices to coordinate and direct economic activity. The system allows for the private ownership of capital, communicates through prices, and coordinates economic activity through markets, places where buyers and sellers come together to buy and sell goods, services and resources. Directly resulting in competition and a widely dispersed economic power. The command economy the government owns most property resources and economic decision making occurs through a central economic plan. The planning board, appointed by the government determines production goals for each enterprise. The division of output between capital and consumer goods is centrally decided based on the board’s long-term priorities