In a command economy (also known as a planned economy), government central planners determine what goods and services will be produced, the amount of goods and services produced, and at what cost to the consumer.
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To provide the nonbreaching party with enough money to cover any genuine damages incurred is the goal of compensatory damages.
<h3>What is compensatory damages?</h3>
- As the name implies, compensatory damages are meant to make up for any loss or harm suffered by the aggrieved party.
- Personal injury damages come in three different forms: general, special, and punitive.
- Punitive damages are given to an offender as punishment.
- This kind of compensation can be used to cover any future medical costs, treatment costs, or other costs related to a harm someone incurred as a result of someone else's carelessness.
- If a careless driver struck your 2008 Honda, totaling it, the compensatory damages would be equivalent to the market value of the car at the time of its demise,
- Less any scrap or salvage value, and you might be entitled to the car's fair market value.
Learn more about compensatory damage here:
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Um I don’t understand what this is
