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Lack of incentives to work hard in planned economy
Sometimes poor quality of goods and shortages
Failure to meet set ideals or consumer needs.
Lack of varieties of goods and services
Consumers can choose only those goods or services which are produces and decided by the government
What else can I help you with?
What are some disadvantages of planned economy?
One disadvantage of the planned economy is that there is inefficient resource distribution.
What is a disadvantage of a centrally-planned economy?
it cannot meet consumers needs and wants
What are some disadvantages of plbanned economy?
The disadvantage of a planned economy is that there is lack of profit which usually leads to the inefficiency of the firms.
What a major disadvantage of centrally planned economy?
it cannot meet consumers needs and wants
What is a major disadvantage of a central planned economy?
it cannot meet consumers needs and wants
How is the economy of totalitarian govern states?
It is a Planned Economy
Why does Spain have a mixed economy?
both the government and the public control the economy, were as Russia is a planned economy because everything is planned and the government has full control
What is a planned economy regulated by?
Planned Economies are regulated by a Governmental Ministry.
In this type of economy the question of how many goods will be produces and supplied is not made by businesses?
Planned (command, centrally planned, or controlled) economy
How is the government involved in a planned economy?
In a centrally planned economy, the government is completely in charge of the economy. There is no reward for individual hard work. The government tells everyone what to do.
What countries have planned economy?
korea
What is the role of government in a centrally planned economy?
In a centrally planned economy, the government is completely in charge of the economy. There is no reward for individual hard work. The government tells everyone what to do.
