Which of the following is a problem inherent in centrally planned economies?
A)There are no problems and everyone,including consumers,is satisfied.
B)There is too much production of low-cost,high-quality goods and services.
C)Production managers are more concerned with satisfying government's orders than with satisfying consumer wants.
D)Unemployment is too high.

Question

Quizplus · Accepted Answer

In centrally planned economies, production managers are responsible for meeting government orders, which often leads to a lack of interest in satisfying consumer wants. This can result in a shortage of goods that consumers actually want and an oversupply of goods that the government deems necessary, making the market inefficient.

Which of the Following Is a Problem Inherent in Centrally