1. Centrally Planned Economy
... in charge of making sure each company has the necessary materials and labor to do so. All said and done, in a centrally planned economy, all the land and capital is owned by the government. No one individual or group of people own any particular piece of capital or ... they wanted and according to supply and demand they could be extremely successful. There are however more drawbacks than there are positive aspects to this type of economy. These drawbacks included: - Low growth rates - Low productivity growth rates - Slow diffusion of new technologies - Consumer shortages - Foreign curre...
- Word Count: 496
- Approx Pages: 2
- Has Bibliography
- Grade Level: High School