Economics

It is going to be tough but you never give up anyways

Advantages and disadvantages of planned economy
Centrally planned

Enables lower unemployment rate
Stable prices
control on production of merit goods and non merit goods

lack of consumer sovereignty as only government decides
• what to produce • how to produce • for whom to produce
Less product diversity

Advantages and disadvantages of market economy

product diversity
Government can focus elsewhere
High innovation as high competition


Unstable prices
Wealth inequality
No control on production of merit goods and demerit goods

Mixed economy

HIgh taxes for citizens
Dual Decision-Making Delays: Having both the government and the private sector involved creates conflicting goals, leading to slow policy responses and bureaucratic gridlock.

D because it is still growing broo

A

C
A is stating, C is saying the best