What Are The Advantages And Disadvantages Of A Command Economy?
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Advantages:
Maximize consumers' welfare and demands
mostly affordable for the consumers
disadvantages:
No competition to motivate the workers
labor only try to maintain the standards ,
achieve the government's target but did not improving them
Maximize consumers' welfare and demands
mostly affordable for the consumers
disadvantages:
No competition to motivate the workers
labor only try to maintain the standards ,
achieve the government's target but did not improving them
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Guest
answered 7 months ago
In short, the advantages are stability, meeting collective objectives and conformance to a grand design. The disadvantages are inefficient resource allocation, absence of a profit motive, lack of choice for consumers and corruption.
You can read the details here: en.wikipedia.org
You can read the details here: en.wikipedia.org
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