command and demand economies

     A lot of talk and writing about different political systems really ought to address different economic systems. Here in the United States, you may have heard the word "demand" used in the context of economics. Our producers are independent, and believe that they are manufacturing or importing goods according to the "demand" or will of the buying public. They decide what to manufacture or import based on what they believe the public will want--when the goods are produced. When they are wrong, the public doesn't buy the goods, or will only buy them at a discount. There is a  certain amount of financial risk involved--the public may not want the goods until they are reduced by 90%, for instance--but these losses are accounted for in the prices of the goods people do buy.   
      In a "command" economy, the means of production are owned by the state, which decides what should be produced, according to the anticipated needs of the people--what the people will need, when the goods are produced. This has been a popular economic system where goods were short and tough decisions had to be made, as there would be much less waste of goods and resources. There are also fewer choices for consumers--an odd notion to us-- we are used to many choices when we buy, and believe that offering a lot of choices is how to sell things. "Command " economies owe some of their good waste record to a general shortage of goods--when there is little to buy, consumers will eventually buy all of it, out of plain need--new shoes because old ones have holes, and so on.
     These are "textbook" examples. Most economic systems are really a mixture of these ideas. Our "demand" economy is subject to government regulation. A "command" economy may feel the pressure of the "demands" of the buying public. 
     Where the means of production are owned by the state, the people consider this a form of ownership by the people--there is no stock market, and no stock prices to rise or fall with business decisions.     
       We call a corporation owned by stockholders "publicly owned"--shares of the corporation are sold on the stock exchange, and protecting the price of shares is part of business decisions.
     This is a very basic outline. It becomes even more complicated when two countries want to trade with one another, and their economic systems are different.