Planned Economy

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.

Both planned and market economies aim to allocate resources effectively to meet the needs of society, albeit through different mechanisms. In both systems, the government can play a role; for instance, a planned economy relies on central planning, while a market economy may involve government regulation to correct market failures. Additionally, both systems strive for economic stability and growth, although they approach these goals through contrasting methods. Ultimately, both economies must balance supply and demand to function effectively.

A planned economy may undergo privatization to enhance efficiency, stimulate economic growth, and increase competition. By transferring state-owned enterprises to private ownership, the government aims to reduce bureaucratic inefficiencies and encourage innovation. Privatization can also attract foreign investment and improve service quality by introducing market-driven practices. Ultimately, these changes are intended to better meet consumer needs and boost overall economic performance.

China's command economy has incorporated elements of free enterprise through the adoption of market-oriented reforms since the late 1970s. These include the establishment of Special Economic Zones (SEZs) that allow foreign investment and private entrepreneurship, increased autonomy for state-owned enterprises, and the introduction of market mechanisms in pricing and resource allocation. Additionally, the growth of a private sector has led to greater competition and consumer choice, contributing to China's significant economic expansion while still maintaining state control over key industries.

In a command economy, the government centrally plans and controls the distribution of goods and services. Decisions about what to produce, how much to produce, and who receives the goods are made by state authorities rather than through market forces. This system aims to meet the needs of the population based on a predetermined plan, often leading to shortages or surpluses due to lack of responsiveness to consumer demand. Ultimately, the distribution is designed to align with the government's economic and social objectives.

In centrally planned economies, the government makes all decisions regarding the production and distribution of goods and services, often prioritizing collective goals over individual consumer needs and wants. While this can lead to an emphasis on essential goods, it often results in shortages or surpluses due to a lack of market signals. Consequently, consumer preferences may not be accurately met, as the system may struggle to respond to changing demands. Overall, while the intent is to ensure equitable access, the reality often falls short of effectively addressing consumer needs.

In a planned economy, the government centrally controls production and distribution, which means that demand and supply are regulated by state planning rather than market forces. The government sets production targets based on anticipated needs, aiming to meet demand without relying on price signals or competition. This can lead to inefficiencies, as there may be mismatches between what is produced and what consumers actually want. Ultimately, while demand and supply exist, they are manipulated by government decisions rather than naturally determined by market interactions.

Nations may choose to operate as market economies to promote individual freedom, innovation, and efficiency through competition, often resulting in higher economic growth and consumer choice. Conversely, planned economies might be adopted to achieve specific social goals, such as reducing inequality or providing universal access to essential services, by centrally controlling resources and production. Historical, cultural, and political factors also play significant roles in these decisions, influencing how societies prioritize economic objectives. Ultimately, the choice reflects a balance between economic efficiency and social equity.

No, barter is not the main means of exchange in a command economy. In such economies, the government typically controls production and distribution, determining what goods and services are available and their prices. Currency is usually used for transactions, but the government may heavily regulate or control the flow of money. Barter may occur informally, but it is not the primary method of exchange.

A command economy is an economic system where the government or central authority makes all decisions regarding the production and distribution of goods and services. It typically involves the state owning the means of production and controlling resources to meet planned economic goals. This system often prioritizes collective needs over individual preferences, which can lead to inefficiencies and shortages. Historical examples include the former Soviet Union and North Korea.

Towns are planned through a process that involves assessing land use, population needs, and infrastructure requirements. Urban planners consider factors like zoning regulations, transportation systems, and environmental impacts to create sustainable and functional layouts. Community input and stakeholder engagement are also essential to ensure that the development meets the needs of residents. Ultimately, the goal is to create livable, efficient spaces that promote economic growth and quality of life.

Yo ma ma

Workers would lose job security and guaranteed incomes.

Who gives a f**k. Nobody cares about the economy. If you do you are a ho**

the state or government

No, the UK is a Market economy. A market economy is one in which in which the prices of goods and services are determined by supply and demand.

Typically, one person or a small group of people in the government would make the decisions.

There is this guy who is spaming me because I'm putting up bad markets. Anyway it's a command economy because I eat cheese. He he he see where he's coming from eh?

17. Conduct research to find examples of countries that have changed from a command economy to a market economy. What kind of changes did the country need to make?

The government places much emphasis on the production of consumer products.

A Mixed economy is an economy that is both a planned and free enterprise economy.This means is has both STATE CONTROLLED economies and also PRIVATE OWNERSHIP economies. These 2 are commonly found the Caribbean, such as Barbados or Cuba for example. Free Enterprise is practically self explanatory. It if the economic system for people who own their own businesses such as shops.

The Controlled economy is well obviously controlled by the STATE but this usually affects larger companies and businesses.

I think it is now, allowing companies to keep profits to an extent that they didn't allow before and so forth.

A planned economy is also known as a command economy, and it is designed by a central governmental authority. It is a type of socialist economy, and it currently exists in North Korea, Laos, and Cuba.

ownership- all of the countries factors of production are own by the government

objectives- consumers, workers and the government are all assumed to be working for the common good.

competion - very little or not at all.

the planning system - this is an extra characteristic of the comand economy.as the government runs the system,they have the job of planning how all the resources should be used.the government provides the solution for the central economic problem