One of the Biggest Problems with Centrally Planned Economies Is

question 66

Multiple Choice

One of the biggest problems with centrally planned economies is that:

• A) central planners have limited information on the true value of the various ways to utilize scarce resources.
• B) they fail to reach economic efficiency because their policies limit global trade.
• C) workers have little incentive to work for the central planner.
• D) they typically have higher levels of corruption compared with market economies.

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Definitions:

Emotion-focused Mechanism

Coping strategies that aim to reduce distress by managing the emotional response to a problem, rather than dealing directly with the problem itself.

Primary Control Strategy

A primary control strategy involves actively trying to change the environment or situation to fit one's needs or desires, often through direct action or problem-solving.

Stereotyped Expectations

Preconceived and oversimplified beliefs about certain groups of people or types of behavior.

Gender

Socially constructed roles, behaviors, expressions, and identities associated with being male, female, or non-binary.