Centrally planned economies tend to grow more quickly than market economies.

Question

Quizplus · Accepted Answer

This statement is actually false. While centrally planned economies may be able to mobilize resources quickly, they often suffer from inefficiencies, lack of innovation, and obstacles to entrepreneurship that ultimately hinder their long-term economic growth. Market economies, on the other hand, incentivize creativity and competition, leading to more sustained growth over time.

Centrally Planned Economies Tend to Grow More Quickly Than Market