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Question
10 the following social and economic goals are met in a command economy? economic security true false economic growth true false economic freedom true false economic equity true false economic efficiency true false
Brief Explanations
- Economic Security: Command economies often guarantee basic needs like food, housing, and employment for citizens, so this goal is met.
- Economic Growth: Command economies can direct large-scale investment into key industries, but lack of innovation and efficiency often limits sustained growth, so this goal is not reliably met.
- Economic Freedom: Command economies centralize all economic decisions; individuals and businesses have no choice over production, consumption, or investment, so this goal is not met.
- Economic Equity: Command economies aim for equal distribution of resources and wealth, minimizing class gaps, so this goal is met.
- Economic Efficiency: Command economies lack price signals and competition, leading to overproduction/underproduction and resource waste, so this goal is not met.
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- Economic Security: True
- Economic Growth: False
- Economic Freedom: False
- Economic Equity: True
- Economic Efficiency: False