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A command economy can lead to inefficiencies as central planners may lack the local knowledge necessary to meet consumer demands effectively. This system often stifles innovation and entrepreneurship due to limited incentives for individual initiative. Additionally, the absence of competition can result in poor-quality goods and services, as state-owned enterprises may have little motivation to improve. Overall, these factors can contribute to economic stagnation and a lack of responsiveness to changing societal needs.
What else can I help you with?
Is Haiti a free market economy or a command economy?
Yes, Haiti is a command economy. A command economy is when the government controls the economy and you are guaranteed a job. However, with a command economy, you cannot open your own business.
What causes a command economy to stagnate or decline?
the leader making a mistake which then affects the whole country in a negative way.
The history of command economy?
what is the history behind command economy
What is a command economy system?
Command Economy is an example of Dictatorship.
Explain stalins use of command economy in Russia?
its his command in economy
What is econony?
It is a command economy where the government controls the economy. It is a command economy where the government controls the economy.
Is Haiti a free market economy or a command economy?
Yes, Haiti is a command economy. A command economy is when the government controls the economy and you are guaranteed a job. However, with a command economy, you cannot open your own business.
What causes a command economy to stagnate or decline?
the leader making a mistake which then affects the whole country in a negative way.
The history of command economy?
what is the history behind command economy
What is a command economy system?
Command Economy is an example of Dictatorship.
What is Vietnams econony?
It is a command economy where the government controls the economy. It is a command economy where the government controls the economy.
Is North Korea a command economy or a free economy?
North Korea has a command economy.
Explain stalins use of command economy in Russia?
its his command in economy
What kind of economy is Mongolia command or market?
it is a command economy da
Is the former USSR an example of the command economy?
The USSR had a command economy, Russia today has a free market economy.
Is Libya a command economy?
Yes Libya has a Command Economy
What do you call an economy that is both partly command and market?
When an economy is partly command and partly market, is called a mixed economy.
