In the evaluation of centrally planned economies, it is evident that they:
A) placed a high priority on technology and innovation.
B) achieved an equal distribution of income.
C) experienced shortages and production rigidities.
D) were efficient.

Question

Quizplus · Accepted Answer

Centrally planned economies, such as those found in communist countries, typically experienced shortages and production rigidities due to the lack of market forces and competition to drive efficiency and innovation. While there may have been efforts to prioritize technology and achieve income equality, the drawbacks of central planning often outweighed these potential benefits. Therefore, choice C is the most accurate statement.

In the Evaluation of Centrally Planned Economies, It Is Evident