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November 27, 2014

Homework Help: Command Economies

Posted by Anonymous on Monday, April 18, 2011 at 8:57pm.

Could I know the features of Command Economies/good and bad?

I think I found their relative advantages and disadvantages. Down below. Please check, and do tell me if there are more. Thanks so much.

Command Economy Advantages:

-Equality is focused on

-Government tries to get rid of private property and distribute its good equally. (If this is done in a proper way than no one is in poverty and no one is wealthier than another.

-Social services are also given importance to in this type of economy.

-The government will provide equal health care, education opportunities, and make sure that all people are fed.

-This type of economy is also capable of quick change for major problems.

-The government owns the companies, so if production needs to be shifted into a different area, the government is capable of doing it quick.

-These type of economies are also very stable. They will never have sudden depressions.

Disadvantages:
-Not that much freedom

-Individual does not have opportunity to decide what they want to do for a career, and they have no control over the goods they receive.

-There is little reason for innovations, hard work, or quality of the work.

-Individuals make same amount of money, no one makes more than the other, the people feel like there is no reason to work hard.

-There is little focus on consumer wants. When it comes to minor day-to-day changes, the government has a hard time dealing with with them.

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