Question

Imagine that you live in a centrally planned or command economy. What aspect would you like most about living in this type of economy? What aspect would you dislike most about living in this type of economy? Be sure to explain each like and dislike completely and provide logical reasons to support your answers.
PLEASE ANSWER CORRECTLY

Answer 1

Answer:

I believe that living in a command economy with a central government that maintains the budget, prices, income, etc.. would be the most ideal situation to be in. Having a sense of security about getting your next paycheck or having job security is very charming. However, this would prevent capitalistic ideals from existing, making capitalists non-functional and various companies could not provide various jobs. I believe that the government would have too much control and the economy would be too stagnant for citizens. Living in this type of economy could also prevent people from making large sums of money from investing since all prices would be controlled by the said government. Realistically, having a secure government sounds like a great idea until people start to realize they have no control over their own income or economy.

Explanation:

Pretty basic explanation. It is all shown above.

Since this question is more of an opinion, here is mine.

*There is no "correct" answer.*