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3 years ago

What is a major disadvantige of a centrally planned economy

Business

1 answer:

cupoosta [38]3 years ago

6 0

Answer:

Lack of competition

Explanation:

A centrally planned economy lack competitiveness. The government decides what to produce, the price, and the distribution channel. Because of these restrictions, there is no motivation for profits. Without competition, a centrally planned economy will have the following features.

There be a lot of inefficiency and wastefulness.
Consumers will not have a variety of goods and services to choose from in the markets.
Businesses will make low profits.

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Mamont248 [21]

Answer:

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Explanation:

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3 years ago

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kherson [118]

Answer:

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Explanation:

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2 years ago

If the quantity of good A (Q A) is plotted along the horizontal axis, the quantity of good B (Q B) is plotted along the vertical

kozerog [31]

Answer:

The slope of the consumer's budget constraint is -PA/PB.

Explanation:

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The price of good A is PA, the price of good B is PB and the consumer's income is I.

The budget line represents the maximum possible bundles of two goods that a consumer can afford by spending his total income. The slope of the budget line will be the ratio of the prices of two goods. It represents the quantity of a good that the consumer needs to sacrifice to increase the consumption of the other good.

So the slope of the budget constraint will be -PA/PB.

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3 years ago

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slega [8]

Answer:

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3 years ago