The information problem for a central planner refers to the fact that he or she may not know what resources are available.
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Q221: Goods with uses valued higher than the
Q222: Prices provide little information about where resources
Q223: In a free market, there are no
Q224: It is in consumers' self-interest to pay
Q225: The central planning approach failed because of
Q227: The central planning approach fails to achieve
Q228: Prices are important in a market economy
Q229: Prices are incentives, prices are signals, and
Q230: The true cost of a good is
Q231: On average, the gain in value from
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