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ges of Free Market Economy:
If the potential sectors do not grow according to expectation, the total income of the country in a year will also not reach the expected level. In this situation, there may be a big deviation between the actual tax collected and the government predicted to get as its income.

Because the free market is a quasi-mirror of nature, those who are stupid, lazy, or just tragically unlucky are often relegated to poverty and misery. To redress this, it is necessary to create institutions outside of, or in addition to, the market so that the least valuable people do not become so poor and desperate that they drag down the rest of society.

A market economy promotes trust and openness, which leaves a society possessing it venerable to enemies who wish to take advantage of that society's good will. it is the responsibility of the government to be watchful against such subversion even when the general public is not.

With a market economy and the freedom of choice it brings, people are able to make choices that are harmful to themselves. When parents do not teach their children to make intelligent choices, the total level of moral and physical disease, and vice in general will increase in a society. Each person can be their own worst enemy, and in a market economy, every citizen must be on guard against personal foolishness and irrationality, if they do not want to suffer the negative consequences of wrong action.

Planed Economy: Planned economy or command economy is an economic system in which the state directs the economy. It is an economic system in which the central government controls industry such that it makes major decisions regarding the production and distribution of goods and services.Its most extensive form is referred to as a command economy,centrally planned economy, or command and control economy. In such economies,central economic planning by the state or government controls all major sectors of the economy and formulates all decisions about the use of resources and the distribution of output.Planners decide what should be produced and direct lower-level enterprises to produce those goods in accordance with national and social objectives. Planned economies are in contrast to unplanned economies, for example, the market economy, where production, distribution, pricing, and investment decisions are made by the private owners of the factories of production based upon their individual interests rather than upon a macroeconomic plan. They are many advantages and disadvantages of planned economy are given below:

Advantages of Planned Economy:
Since this system is centralized and directly under the control of the government, it is stable and safe for investors. There are standards laid down by the government which have to be followed by every investor and thus, it helps to establish more control.

All individual efforts are focused towards a certain goal, which means that all the energy can be concentrated towards achieving social and economic goal of the government.

Since this system is stable, long term financial projects and infrastructure can be made without the fear of market downturn, which may lead to abrupt abandonment.

In a planned economy, the individual efforts are directed towards a certain goal by the restrictions which mean that all the energy can be focused towards achi