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.
what are command economies
Neither purely market nor purely command economies can adequately answer the basic economic questions in every situation. -Plato
the competition in the market economies encourages both qyality and low prices.
capitalism
no
Command economies emphasize government allocation of production.
what are command economies
no
Command, traditional, and market economies
Neither purely market nor purely command economies can adequately answer the basic economic questions in every situation. -Plato
command economies
the competition in the market economies encourages both qyality and low prices.
capitalism
no
Cuba is one of the command economies in the Caribbean.
Adam Smith
China, South Korea, Cuba, and Russia are countries that are under command economies. This type of economy is common in a communistic country.