User Account

All Pages

Ineffective method to organize an economy

Assignment Help Microeconomics
Reference no: EM131040266

Central planning is an ineffective method to organize an economy because

1. most central planners are less intelligent than business entrepreneurs in market economies.

2. central planners cannot possibly obtain all the information necessary to allocate resources efficiently.

3. central planners do not respond predictably to incentives.

4. central planners have inadequate funding to meet the needs of their constituents

Reference no: EM131040266

Questions Cloud

Effectiveness of centralized economic planning : Which of the following will reduce the effectiveness of centralized economic planning?
What do you think the west can teach the east : Do both sides of the world go through similar problems? Or are they different? And more importantly, do you think each side can learn something from the other?
Length of a contraction : Which of the following statements is FALSE? A) The rate of change in economic activity is used to assess whether an economy is expanding or contracting.
Advise charlie on his tax implications : Charlie owns a block of three hectares of land in Yarra Valley on which a house is situated. Advise Charlie on his tax implications relating to the Yarra Valley property
Ineffective method to organize an economy : Central planning is an ineffective method to organize an economy because 1. most central planners are less intelligent than business entrepreneurs in market economies.
Explain which principles you applied : find a current event from the past two years and discuss the administrative responsibility to the stakeholders, organization, and public regarding the issues in described in the current event. Justify your response with one or two examples.
Handed enforcement of contracts : Even-handed enforcement of contracts fuels economic prosperity because it
Sustain rapid economic growth : Which of the following is most important if a country is going to achieve and sustain rapid economic growth?
Government or private conservation groups : Under a system of private property, could a 60-year-old owner of a tree farm benefit by planting and caring for a crop of Douglas firs, most of which will not be ready to harvest for 50 years?

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd