Question

1. what is a significant disadvantage of a market economy? high levels of government control lack of innovation and competition inefficiency in production and resource allocation inequities in wealth and resource distribution 5. which of the following is a key advantage of a command economy? it adapts quickly to changes in consumer demand. it tries to ensure a more equitable distribution of resources. it promotes rapid innovation and competition. it allows for greater consumer choice and freedom.

Explanation:

1. In a market economy, due to factors like differences in individual abilities and starting - points, there are often inequities in wealth and resource distribution. It has low government control, promotes innovation and competition, and is generally efficient in production and resource allocation in the long - run.
2. A command economy is characterized by government control. It aims to ensure a more equitable distribution of resources as the government decides on production and distribution. It is slow to adapt to consumer demand, has less innovation and competition, and offers less consumer choice compared to a market economy.

Answer:

1. Inequities in wealth and resource distribution
2. It tries to ensure a more equitable distribution of resources.