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Why are command economies usually less efficient than market economies?
The competition in market economies encourages both quality and low prices.
Why are command economies usuall less efficient than market economies?
The competition in market economies encourages both quality and low prices.
What factors contributed to the collapse of command economies at the end of the 20th century?
Some factors that contributed to the collapse of command economies were the following:They were much less efficient at producing goods than Western free market economies.They were too focused on producing consumer goods instead of valuable new technologiesApex: They were much less efficient at producing goods than Western free market economies.
Which factor contributed to the collapse of command economies in communist countries at the end of the 20th century?
Answer this question… They were much less efficient at producing goods than Western free market economies.
Why are commanded economies usually less efficient than market economies?
The competition in market economies encourages both quality and low prices.
Why are command economies usually less efficient than market economies?
The competition in market economies encourages both quality and low prices.
Why are command economies usuall less efficient than market economies?
The competition in market economies encourages both quality and low prices.
What factors contributed to the collapse of command economies at the end of the 20th century?
Some factors that contributed to the collapse of command economies were the following:They were much less efficient at producing goods than Western free market economies.They were too focused on producing consumer goods instead of valuable new technologiesApex: They were much less efficient at producing goods than Western free market economies.
Which factor contributed to the collapse of command economies in communist countries at the end of the 20th century?
Answer this question… They were much less efficient at producing goods than Western free market economies.
Why are commanded economies usually less efficient than market economies?
The competition in market economies encourages both quality and low prices.
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
What factors contributed to the collapse of communism in the Soviet Union?
They were much less efficient at producing goods than western free market economies
Are small farmers more efficient or less efficient than big land owners?
Due to economies of scale, this statement is incorrect.
A tax always makes a market less efficient true or false?
true
Is the free-market quantity of public goods generally greater or less than the efficient quantity?
Less than.
Do oligopolies produce an efficient level of output?
Oligopolies often do not produce an efficient level of output due to their market power and the tendency to engage in collusion or price-setting behaviors. This can lead to higher prices and reduced quantities compared to a competitive market, resulting in allocative and productive inefficiencies. As firms in an oligopoly may restrict output to maximize profits, consumer welfare can be negatively impacted. Consequently, while they might achieve some economies of scale, the overall market outcome is typically less efficient.
Which of these is a correct description of one of the ways in which a command economy differs from a market economy?
In a command economy, individuals have less economic freedom.
