Sovi.AI - AI Math Tutor

Scan to solve math questions

QUESTION IMAGE

which of the following are disadvantages of a command economic system? …

Question

which of the following are disadvantages of a command economic system? choose three correct answers. strong government support of social security programs few economic choices for citizens low unemployment rates and retirement assistance over/under production of important goods protections for individual property and business owners no private ownership of business

Explanation:

Brief Explanations
  1. Analyze each option:
  • "strong government support of social security programs" and "low unemployment rates and retirement assistance" are advantages of a command economic system as the government controls resources to provide such support.
  • "protections for individual property and business owners" is not a feature of a command economy (government owns most means of production).
  • "few economic choices for citizens" is a disadvantage because the government dictates production and consumption, limiting what citizens can buy/do economically.
  • "over/under production of important goods" occurs as the government - run planning may not accurately predict demand, leading to inefficiencies.
  • "no private ownership of business" is a disadvantage as it limits entrepreneurship and individual economic freedom.

Answer:

B. few economic choices for citizens
D. over/under production of important goods
F. no private ownership of business