10. Strengths and weaknesses of the three basic types of economies Imagine you are a consultant who has been asked to summarize the strengths and weaknesses of Directavia, a nation with a pure command economy. Which of the following would you include in your report as weaknesses of Directavia's economy? Check all that apply. ☐ Workers' earnings are unequal, relative to a market economy. The economy cannot quickly change the type of goods being produced to meet new priorities. Many goods are available only through a black market. The economy experiences persistent shortages and surpluses.
10. Strengths and weaknesses of the three basic types of economies Imagine you are a consultant who has been asked to summarize the strengths and weaknesses of Directavia, a nation with a pure command economy. Which of the following would you include in your report as weaknesses of Directavia's economy? Check all that apply. ☐ Workers' earnings are unequal, relative to a market economy. The economy cannot quickly change the type of goods being produced to meet new priorities. Many goods are available only through a black market. The economy experiences persistent shortages and surpluses.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter33: International Trade
Section: Chapter Questions
Problem 22CTQ: You just got a job in Washington, D.C. You move into an apartment with some acquaintances. All your...
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