0
Why are nations with centrally planned economies sometimes slow?
Wiki User
∙ 13y ago
Central planning offered a means to concentrate scarce economic resources on the development of industry and infrastructure, but it never resolved the problem of identifying and responding promptly to consumer wants and adjusting rapidly to wider economic change expressed in capitalist economies through the market. In practice its accounting mechanisms also tended to prioritise quantity rather than quality, promoting heavy industry at the expense of satisfying consumer demand.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Why are nations with centrally planned economies sometimes slow to succeed when they privatize?
they lack experience running profitable firms, are often corrupt and have sociopolitical agendas that conflict with efficient operations
Why are nations with centrally planned economies sometimes slow to succeed when they privatize industry?
they lack experience running profitable firms, are often corrupt and have sociopolitical agendas that conflict with efficient operations
Why are the nations with centrally planned economies sometimes slow to succeed when they privatize industry?
A highly organised centrally planned economy will be a lot more efficient than a new and disorganised market economy, as it takes time for consumers to reveal their preferences, industry to make investment and products to be produced at rates which are efficient.
What has happened to most of the large centrally planned economies?
jgjjeajojeio
Explain what has happened to most of the large centrally planned economies?
jgjjeajojeio
Why are nations with centrally planned economies sometimes slow to succeed when they privatize?
they lack experience running profitable firms, are often corrupt and have sociopolitical agendas that conflict with efficient operations
Why are nations with centrally planned economies sometimes slow to succeed when they privatize industry?
they lack experience running profitable firms, are often corrupt and have sociopolitical agendas that conflict with efficient operations
Why are the nations with centrally planned economies sometimes slow to succeed when they privatize industry?
A highly organised centrally planned economy will be a lot more efficient than a new and disorganised market economy, as it takes time for consumers to reveal their preferences, industry to make investment and products to be produced at rates which are efficient.
What has happened to most of the large centrally planned economies?
jgjjeajojeio
Explain what has happened to most of the large centrally planned economies?
jgjjeajojeio
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
Who makes economic decisions in a centrally planned economies?
Harris de guzman ramos
Why are nations with centrally planned economies slow to succeed when they privatize industry?
they lack experience running profitable firms, are often corrupt and have sociopolitical agendas that conflict with efficient operations
What happens to most centrally planned economies?
Centrally planned economies can only be successful if they are incredibly small. Imagine A single group in America trying to control all the prices in the countless markets - it would simply not be possible. Therefore, most centrally planned economies eventually turn into some sort of free market economy. When prices are determined by the give and take of supply and demand, they are much easier to maintain.
What applies to all centrally-planned economies?
The government places much emphasis on the production of consumer products.
Can you name a country that has a planned economy?
North Korea is the most centrally planned economy in the world. Most others allow for *some* degree of private trade. Some other less centrally planned economies are: - China - Russia - Cuba
What statement applies to all centrally-planned economies?
The government places much emphasis on the production of consumer products.
