Which events would be more common in a command economy than a market economy? Select all that apply.
(1 point)
Responses
People with lower incomes have the same goods as people with higher incomes.
People with lower incomes have the same goods as people with higher incomes.
People wait in long lines for cheap goods.
People wait in long lines for cheap goods.
New businesses are started to fill society’s unmet needs.
New businesses are started to fill society’s unmet needs.
Young college graduates have difficulties finding jobs.
Young college graduates have difficulties finding jobs.
A great deal of food in a market is thrown out because people wait in long lines for cheap goods.
A great deal of food in a market is thrown out because people wait in long lines for cheap goods.
Companies develop new and useful technologies.
Young college graduates have difficulties finding jobs.
People wait in long lines for cheap goods.
A great deal of food in a market is thrown out because people wait in long lines for cheap goods.
two choices only, choose WISELY
People wait in long lines for cheap goods.
Young college graduates have difficulties finding jobs.
The events that would be more common in a command economy than a market economy are:
1. People with lower incomes have the same goods as people with higher incomes.
In a command economy, the government decides what goods are produced and distributed, so there is often an equal distribution of goods regardless of income.
2. People wait in long lines for cheap goods.
In a command economy, the government controls the prices of goods, which can result in high demand and low supply for cheap goods, leading to long lines.
3. New businesses are started to fill society's unmet needs.
In a command economy, the government has the power to identify and address societal needs, so it can encourage the creation of new businesses to meet those needs.
4. Young college graduates have difficulties finding jobs.
In a command economy, the government often dictates employment opportunities and can make it challenging for young college graduates to find jobs that match their qualifications.
5. A great deal of food in a market is thrown out because people wait in long lines for cheap goods.
In a command economy, the government's control over prices and distribution can result in scarcity and long wait times, leading to wasted food in markets.
On the other hand, in a market economy, where supply and demand determine prices and distribution, events such as companies developing new and useful technologies would be more common. In a market economy, businesses have the freedom to innovate and create new technologies to meet consumer demands and gain a competitive advantage.