Anonymous

What Are Pros And Cons Of A Command Economy?

1 Answers

Anonymous Profile
Anonymous answered
Pros
A sense of community within the economy
Income equality
Potential to get things done very quickly

Cons
Little innovation
No competition within the economy
Firms will have a hard time competition in the world market
The quality of the good are detrimental
Inefficient allocation of resources
Lack of Freedom
Lack of personal gain
Generally, there is a lower standard of living when compared to a free market economy

Answer Question

Anonymous