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
Cuba is one of the command economies in the Caribbean.
no
capitalism
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
no
capitalism
Cuba is one of the command economies in the Caribbean.
the competition in the market economies encourages both qyality and low prices.
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.
Adam Smith