Which Statement Describes a Disadvantage of a Command Economy

Which statement describes a disadvantage of a command economy. The production and allocation of goods and services is determined primarily through government.

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It cannot change direction easily if the need arises to do so.

. Paradox of value refers to the. Nothing stops the government from producing things that people dont need or want. The advantages of a market economy include increased efficiency productivity and innovation.

In a truly free market all resources are. C The production of goods and services is. The Federal Reserve helps the economy by keeping inflation low in times of economic growth.

However citizens find a way to fulfill their needs and desires and this often results in a shadow economy or black market that buys and sells things the command economy isnt producing. Public goods are not easily provided. Th guiding mechanism allocation of resources between different uses will be made arbitrarily.

Government regulation is hard to enforce. It cannot change direction easily if the need arises to do so. Leaders attempts to control this market weakens support for them.

Theres no government intervention. Command economies often produce too much of one thing and not enough of another. Command Economy is a Government system where the determination of good production quantity to be produced and the price of the goods at the time of sales is carried out keeping the free market aside.

The Federal Reserve keeps. Items tend to be produced solely for the sake of profit. Which statement describes a disadvantage of a command economy.

Command economy market economy Business owners make decisions about how to run their companies. Absence of Price Mechanism and Misallocation of Resources. High value of nonessential item and the low value of an essential item.

Contradiction between gross domestic product market value. Items tend to be produced solely for the sake of profit. Items tend to be produced solely for the sake of profit.

Improper calculation of costs and determination of prices arises in socialist economy because. Numerous consumer inconveniences are present. The lack of incentive for individuals.

A The production of goods and services is determined primarily by government but the allocation of goods and services is determined primarily by markets. Drag and drop each statement into the box with the economy it best reflects. High value of an essential item the low value of a nonessential item.

It cannot change direction easily if the need arises to do so. One main disadvantage of a command economy is that ___. It does little to help the less advantaged obtain the goods and services they need.

Its run by a central planner. Which statement describes a disadvantage of a command economy. Which statement best describes a command economy.

Which statement describes a disadvantage of a command economy. There are few incentives for efficiency. The following are some of the disadvantages of Socialistic Economy.

The biggest disadvantage in a command economy is. How is the principle of Theres No Such Thing As A Free Lunch illustrated in a socialist economy. It does little to help the less advantaged obtain the goods and services they need.

Contradiction of what consumer want what they need. It does little to help the less advantaged obtain the goods and services they need. Do a little research then take a shot.

Market forces determine production decisions. There is too much consumer sovereignty. There isnt enough money to go around.

Which statement best describes a command economy.

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