l07 Planned economy with examples.pptx

Planned economy with examples

1. Planned Economy With Examples

2. What Is Planned Economy? Under a command economy, governments own the factors of production such as land, capital, and resources, and officials determine when, where, and how much is produced. This is also sometimes referred to as a planned economy.

3. Examples Planned Economy Some examples of countries that have command economies are C uba, north K orea and the former soviet union.

4. Disadvantages No freedom of choice for producer or consumers Lack of incentives for workers result in low morale efficiency. Managers are also not motivated.

5. Thank You Name: Sony Trade: Marketing Executive Unit: 2