Examlex
An expert system is not a good choice when a lot of human expertise is needed to tackle a problem.
Efficiency
The optimal use and allocation of resources to produce the maximum amount of goods and services with minimal waste.
Equity
The concept of fairness in economics, typically referring to ownership interest in a company or property, or the idea of justice in distribution of wealth or resources.
Command Economy
An economic system where the government controls the major aspects of production, distribution, and exchange of goods and services.
Central Planning
An economic system where all major production, investment, and distribution decisions are made by a central authority, typically the government.
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