Features of planned economy, Managerial Economics

Features of Planned Economy

The command economies relies exclusively on the state.  The government will decide what is made, how it is made, how much is made and how distribution takes place.  The resources - factors of production - on behalf of the producers and consumers.  Price levels are not determined by the forces of supply and demand but are fixed by the government.

Although division of labour and specialisation are found, the planned economies tend to be more self-sufficient and tend to take part in less international trade than market economies.

Posted Date: 11/27/2012 4:33:00 AM | Location : United States







Related Discussions:- Features of planned economy, Assignment Help, Ask Question on Features of planned economy, Get Answer, Expert's Help, Features of planned economy Discussions

Write discussion on Features of planned economy
Your posts are moderated
Related Questions
Drafting of Production Policy: Demand forecasts assists in drafting appropriate production policy so that there may not be any space between future demand and supply of a product.

Internal and External factors of business operation External factors : A firm can't exercise any control over these factors. Thepolicies, plans and programmes of the firm m

No demand forecasting method is 100% accurate. Collective forecasts develop precision and reduce the probability of huge mistakes.  Methods which relay on Qualitative Assessmen

Measurement of Inflation The rate of inflation is measured using the Retail Price Index.  A retail Price Index aims to measure the change in the average price of a basket of g

The aim of monopolist is to maximise profit therefore; he would produce that level of output and charge that price which gives him maximum profits. He would be in equilibrium at th

The theory of consumer's behavior seeks to explain the determination of consumer's equilibrium. Consumer's equilibrium refers to a situation when a consumer gets maximum satisfacti

Assume a floating exchange rate system. The Fed pursues an expansionary monetary policy. Draw how this would look on the graphs below. Mark the new equilibriums. Complete the table

Help with writing papers and analysis for case "The Ready-To-Eat Breakfast Cereal Industry" in 1994

Objectives of IMF To achieve these objectives, the following conditions would have to be fulfilled: - i.            Countries should not impose restrictions in their trade

Is a “perfectly competitive market” an efficient mechanism for the allocation of scarce resources? When it is, explain why. When it is not, document reasons for either inefficient