1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
galben [10]
3 years ago
14

What are the advantages and disadvantages of a command economy. In your opinion, should America adopt this system? Explain your

answer in the form of a paragraph with no fewer than four sentences.
History
1 answer:
inessss [21]3 years ago
4 0

Answer:

Answer is in explanation

Explanation:

In a command economy, the government determines what is produced, how it is produced, and how it is distributed. Private enterprise does not exist in a command economy. The government employs all workers and unilaterally determines their wages and job duties. Some advantages can be less inequality because the government controls the means of production in a command economy, it determines who works where and for how much pay. This power structure contrasts sharply with a free market economy, in which private companies control the means of production and hire workers based on business needs, paying them wages set by invisible market forces. Low Unemployment Levels, Unlike the invisible hand of the free market, which cannot be manipulated by a single company or individual, a command economy government can set wages and job openings to create the unemployment rate and wage distribution that it sees fit. Disadvantages can be Lack of Competition Inhibits Innovation, Critics argue that the inherent lack of competition in command economies hinders innovation and keeps prices from resting at an optimal level for consumers. Although those who favor government control criticize private firms that esteem profit above all else, it is undeniable that profit is a motivator and drives innovation. At least partly for this reason, many advancements in medicine and technology have come from countries with free market economies, such as the United States and Japan. Inefficiency, Efficiency is also compromised when the government acts as a monolith, controlling every aspect of a country's economy. The nature of competition forces private companies in a free market economy to minimize red tape and keep operating and administrative costs to a minimum. If they get too bogged down with these expenses, they earn lower profits or need to raise prices to meet expenses. Ultimately, they are driven out of the market by competitors capable of operating more efficiently.

You might be interested in
How does the bill of rights ensure that the us remains a democracy?
Brrunno [24]
<span>The First Amendment in the Bill of Rights states that every United States citizen has the rights to freedom of speech, freedom of the press, and freedom of assembly. With these freedoms we have the ability to share our opinions and vote on how our government should be run. Democracy is a form of government in which the people of a country either rule directly or through elected representatives, the Bill of rights gives us the ability to state why we do or do not like how our government is run and it also allows us to express what needs fixed.</span>
7 0
3 years ago
Why did abolitionists believe that Lincoln should make the end of slavery a goal of the civil war?
Phantasy [73]
So that they could get the support of the black slaves that were all over the united states.
7 0
3 years ago
Technology can help governments handle economic emergencies, such as
Leto [7]
Technology helps in dealing with economic emergencies like food shortage and disasters. Technology is used to study the existing environmental conditions in order for farmers to be guided with the right crops to plant at specific seasons to ensure maximum yields. In terms of disasters, technology is used for disaster risk reduction and management. This is done in order to minimize the effects that disasters have on the resources.
5 0
3 years ago
Anti-federalist believed that most of the governments power should lie with
Alina [70]
They Thoguht most of the power should lie between with state government
3 0
3 years ago
Read 2 more answers
Match these items. 1. listen to various experts about the bill, both supporters and opponents of the bill override 2. two-thirds
inysia [295]
The correct matching are as follow:
1. HEARING: Listen to various experts about the bill, both supporters and opponents of the bill.
2. OVERRIDE: Two-thirds majority vote needed.
3.FLOOR ACTION: Activity concerning a bill which may include debates and compromise.
4. IN SESSION: The time when congress is active and members are present, fulfilling their respective duties.
6 0
3 years ago
Other questions:
  • "what were the two regions that early egypt was divided into?"
    14·1 answer
  • The native peoples who became skilled at riding horses were the
    13·2 answers
  • Which legislation limited the powers of the president to commit troops to war?
    12·2 answers
  • Put the historical events into chronological order.
    9·1 answer
  • Describe how German and Italian aggression were changing the face of Europe.
    9·1 answer
  • 16.<br> 5. Once people realized that the Black Death<br> was spreading across Europe, they began to
    7·1 answer
  • GGOODDD MORNING EVERYONE..
    9·1 answer
  • What kinda economic system is based on government control<br> of resources and production
    10·1 answer
  • The was a peaceful shift from
    12·1 answer
  • How did the United States entry into world war 1 change the culture and international political policies of the country?​
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!