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What what is one benefit of a centrally planned economy?
There are few benefits to a centrally planned (controlled) economy. One benefit might be that the amount of funds used to manufacture a particular product can be firmly budgeted for. Thus there are no surprises or cost over runs.
How is a government involved in a centrally planned economy?
In a centrally planned economy, the central government decide which part of the country to allocate cash and which one not to.
Is Italy centrally planned?
No. Since its creation in 1946, the Italian Republic has never had a centrally planned economy.
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.
What is the governments role 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.
Is ireland's economy centrally planned?
ummm
What is centrally planned democratic free economy?
A centrally planned democratic free economy is one whereby the budget making process involves everyone.
Why do centrally planned economies tend not to be efficient?
What are two reasons why a centrally planned economy tend to be less efficient than a market base economy
Which country has most extreme example of a centrally planned economy?
the most extreme example of a centrally planned economy are china,hongkong,cua and north korea
What is the economic system that relies on habit custom or ritual to decide questions of consumption and production of goods and services?
a centrally planned economy
20 disadvantages of centrally planned economy?
i dnt no
What factors and resources does the government own in a centrally planned economy?
The factors and resources that the government owns in a centrally planned economy include decisions, pricing, and the entire market.
