What are the advantages and disadvantages of planned economy?
What are the advantages and disadvantages of planned economy? Command economy advantages include low levels of inequality and unemployment, and the common objective of replacing profit as the primary incentive of production. Command economy disadvantages include lack of competition and lack of efficiency. What are 3 disadvantages of planned economy? List of the Disadvantages of a Centrally Planned EconomyThere are high levels of inefficiency in a centrally planned economy. You will still find a lot of waste in this system. Consumers receive a complete lack of choice throughout their society. Most centrally planned economies restrict individual rights. What are 3...