In the context of planned economies, countries that adopted communism most likely developed:
A)individualism and narcissistic values among people.
B)a plethora of choices regarding jobs and buying options.
C)a free market system for services.
D)crippling shortages and surpluses.

Question

Quizplus · Accepted Answer

Countries that adopted communism in the context of planned economies often faced crippling shortages and surpluses. This is because the government controls the allocation of resources and sets production targets, which can result in shortages of certain products and overproduction of others. The lack of market signals and competition also tends to stifle innovation and efficiency, leading to an inefficient allocation of resources. Individualism and a free market system are typically discouraged in communist countries, and while job choices may be plentiful in theory, they are often determined by the state rather than by individual preference.

In the Context of Planned Economies, Countries That Adopted Communism