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Critics commonly argue that because planned economies cannot effectively process as much relevant information as a market does, command economic systems cannot coordinate economic activity or satisfy consumer demand as well as market forces do.
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What are the econimes market and command?
what are command economies
Why are economies never purely market or command economies?
Neither purely market nor purely command economies can adequately answer the basic economic questions in every situation. -Plato
Why are command economies less efficient the market economies?
the competition in the market economies encourages both qyality and low prices.
Which of these is a mixture of command and market economies?
capitalism
Is there a pure command and pure market economies?
no
What do command economies emphasize?
Command economies emphasize government allocation of production.
What are the econimes market and command?
what are command economies
Are command economies dictatorships?
no
What are the three main types of economies?
Command, traditional, and market economies
Why are economies never purely market or command economies?
Neither purely market nor purely command economies can adequately answer the basic economic questions in every situation. -Plato
What kinds of economies did Eastern European countries have before the fall of communism?
command economies
Why are command economies less efficient the market economies?
the competition in the market economies encourages both qyality and low prices.
Which of these is a mixture of command and market economies?
capitalism
Is there a pure command and pure market economies?
no
What Caribbean country has command economy?
Cuba is one of the command economies in the Caribbean.
Who was one of the first proponents of employing market economies instead of command economies?
Adam Smith
What do critics say about market economies?
Critics commonly argue that in a market system the rich, who begin with a disproportionately large share of resources, tend to become richer while the poor, who begin with a disproportionately small share of resources, tend to become poorer.
