What effect does the lack of competition in command economics have?

1 answer:

3 0

It creates the possibility of companies, which are selling a certain product on a market which does not have any other producer, becoming and having the 100% of the market share.

This enables them to completely determine the price that can be very high as people will have to pay if they want to have this product.

It also enables them to determine various aspects about the quality of the product in general.

Usualy all this would be determined by the demand and competition. But in a command economy, all of it is determined by the producer. All the products can therefore look the same and don't need to be produced in excess but in just the right amount for the people which is obviously very hard to determine.

You might be interested in

What is the main function of the large central vacuole in a plant cell?

GarryVolchara [31]

B stores water and food

8 0

3 years ago

What is the only u. S. City to have hosted the winter olympics twice?.

ValentinkaMS [17]

Answer:

Lake Placid

Explanation:

Lake Placid hosted the <em>Winters Olympics</em> in 1932 & 1980 respectively.

Learn more about the Olympics, here:

brainly.com/question/11781126?referrer=searchResults - historical information regarding the Olympics.

7 0

2 years ago

A game of peak-a-boo with his dad excites William during the first six months of his life because William actually thinks his da

Elena L [17]

Answer: Object permanence

Explanation: Object permanence refers to the mental ability of a child to know or belief that an object continue to exist even when they can no longer be heard, seen or felt. At the very early stage of a child, they seem to belief that once an object can no longer be heard or seen, then such objects has seized to exist. Such that when an object is hidden from a child view or taken out of sight, they belief such object has disappeared because they lack the mental ability to realize that maybe the object was hidden or kept away from them.

5 0

2 years ago

What practice involves identifying, defining, and solving a problem by using data in an organized, step-by-step manne

Dafna11 [192]

Analytical thinking involves identifying, defining, and solving a problem by using data in an organized, step-by-step manner.

Analytical thinking way analyzing the data, amassing the records, and checking whether the declaration follows logically in identifying reasons and consequences. The reasoning is one of the key factors of analytical questioning. In an interview for a process, humans are regularly requested to evaluate their analytical capabilities

Approaching each setback and failure as an opportunity to learn is an example of analytical thinking. Leaders regularly include past learnings to resolve gift problems. They may be first-rate at attending to the heart of trouble and locating the logical solution.

Analytical skills are a wide-ranging set of expert traits that encompass the capability to assume critically, analyze information, make tough decisions, and clear up complex issues. These essential ability sets all involve taking in new information and mentally processing it in an effective manner.

Learn more about thinking here brainly.com/question/25434379

#SPJ4

3 0

2 years ago

What were the potential consequences for the delegates who signed the Declaration of Independence?

olga2289 [7]

The answer is B! They would be hanged as traitors.

6 0

3 years ago