disadvantage of economic system
*plz give me a few answer asap*
Answers
Answer:
Traditional Economy
Disadvantages:
1. This type of society is often very slow to change.
2. It does not take advantage of technological change.
3. There is relatively little promotion of intellectual and scientific development.
4. There is inefficient provision of goods and services.
5. There is inadequate use of skill in relation to the factors of production.
6. No upward movement of labor takes place.
Command Economies
Disadvantages:
1. No freedom of choice for consumers or producers
2. System is too rigid to adjust when changes occur, can result in shortages
3. Lack of incentive for workers results in low morale and efficiency. Managers
also are not motivated.
4. There are too many officials, and too much unnecessary procedure and
paperwork (red-tape or bureaucracy)
5. Conflicts of interests can arise because what the country needs may not be
what the people want.
6. There is wastage of manpower because large numbers of people are
required for central planning.
Free Market Economy
Disadvantages:
1. Since the making of profits is the dominant motive of the private sector, only goods
and services that yield the highest profit will be produced.
2. Since there is no government intervention in this type of system, consumer could be
exploited through the charging of high prices for essential goods and services.
3. This system leads to great inequalities as the few rich get richer and the many poor
get poorer.
4. There is much pollution associated with this system especially when industrialization
begins to develop.
5. There tends to be an over-consumption of demerit goods such as alcohol, cigarettes
and drugs
Mixed Economies
Disadvantages:
1. Too much government regulation may dampen the free enterprise spirit.
2. Some state-owned industries are allowed to operate inefficiently, thus wasting resources.
3. Where government intervenes in the market by setting maximum and minimum prices, this
may cause excess demand or supply, which may be difficult to regulate in the long-run.
4. Since the private sector helps to answer the economic questions, there can be the creation of
monopolies.
5. Inequitable distribution of wealth can also arise.
I hope this helps a little bit.
Related Questions
Why did Madison and Monroe consider infrastructure development to be so important?
Answers
Answer:Prior to moving into the still damaged Executive Mansion, which was burned by the British during the War of 1812, President James Monroe revived the presidential tour of the country, which was first undertaken by George Washington.
Explanation:Prior to moving into the still damaged Executive Mansion, which was burned by the British during the War of 1812, President James Monroe revived the presidential tour of the country, which was first undertaken by George Washington. The stated reason for the tour was to inspect defense fortifications, but it also allowed Monroe to reach out to Americans throughout the nation and exhibit his relaxed and affable personality. In June 1817, Monroe began his first tour of the North, traveling up the coast to Portland, Maine. From there, he turned west to Detroit and then southeast back to Washington, D.C. The trip took fifteen weeks and allowed Monroe to come in contact with more people than any previous sitting President. Everywhere he went, he was praised and applauded. The Boston Columbian Centinel described his reception in Massachusetts as the beginning of an "Era of Good Feelings" for the nation—a phrase that is now often used to describe Monroe's presidency.
The first tour was such a success that Monroe embarked on two others—one of the Chesapeake Bay area in 1818 and one of the South and West in 1819. Although those trips did not match the enthusiasm of the first, they gave Monroe an opportunity to reach out to different regions of the country. All three tours helped familiarize the people with their President, and Monroe's endearing personality won many converts.
One of Monroe's first acts as President was to put together his cabinet. Wanting to assemble a group of advisers from different regions of the country, he turned to New England native John Quincy Adams as his secretary of state. Adams had a long diplomatic career, and with their similar backgrounds in foreign affairs the two men established a good working relationship. Monroe then chose William H. Crawford from Georgia as secretary of treasury and sought out a westerner to serve as secretary of war. Unable to persuade his first choices, he picked to John C. Calhoun from South Carolina. Monroe turned to an old friend, William Wirt, to be his attorney general and decided to keep Benjamin Crowninshield as secretary of the navy. Monroe's cabinet has often been noted as an exceptionally strong one. The President assembled a group of intelligent and talented men who were very good administrators. He then gave them a lot of freedom to do their jobs. Although he encouraged debate and solicited advice from his cabinet, there was never any doubt that he was firmly in charge. He made the final decisions and expected his cabinet to support and implement them.The North held a small majority in the House of Representatives in 1819, and the South controlled a bare majority in the Senate. Voting on the Tallmadge amendments was strictly sectional: the amendments passed in the House but lost in the Senate. The House refused to admit Missouri as a slave state and the Senate insisted upon it. Monroe, along with many congressional leaders, understood the volatile nature of the debate and the strong regional divide over slavery.
However, he thought it was unconstitutional to place special restrictions on the admission of one state, as the Tallmadge amendments did, and threatened to veto any bill including such restrictions. Monroe feared that the dispute would divide the Union and worked in support of a compromise package in Congress. However, he did not forcefully inject himself into the process because he did not want to be accused of meddling in congressional affairs. A new Congress convened in the winter of 1819, allowing legislators to reach an accord that settled the dispute. Massachusetts allowed its far northern counties to apply for admission to the Union as the free, or non-slave, state of Maine, thus offsetting fears that the South would gain votes in the Senate with the admission of Missouri. Additionally, it was agreed—after much behind-the-scenes deal-making—that Missouri would be admitted as a slave state in return for the South's willingness to outlaw slavery in western territories above the 36/30' north latitude line. That line would open present-day Arkansas and Oklahoma to slavery but would forbid it throughout the rest of the Louisiana Territory—land that would eventually be organized into nine states. Monroe signed the bill on March 6, 1820, after he was satisfied that the provisions were, indeed, constitutional.
6th grade social studies help me pleaseee
Answers
Answer:
D
Explanation:
Articles of confederation were weak and the federal gov't had no power.
cause and effect concave lenses side of lenses are curved inward
Answers
Answer:
Yes
Explanation:
Answer:
blah blah blah payback for stealing my points
Explanation:
Why is nepal regarded as landlock country
Answers
Answer:
Nepal is landlocked country because it lies between two biggest country of Asia China and India, No territory of the Nepal is connected with Sea. Kolkata port is the Nearest port from Nepal which is in India.
please help me... i'll mark brainliest if correct!
Answers
Answer:
I think A srry if im wrong
Explanation:
it makes since to me
Please me pleaseeeeeee
Answers
Hope this helps :)
How many Executive Departments make up the President’s Cabinet.
Answers
Answer: 15 departments in the Cabinet
Explanation:
What kind of event is common in a fable?
A good princess triumphs over the evil queen.
A mythological god fights with another god.
An animal plays a trick on another character.
An ordinary person overcomes an obstacle.
Answers
Answer:
An animal plays a trick on another character.
Explanation:
List three changea that has taken place in the labour force.
Answers
Answer:
Unemployed people are out of work for longer,a smaller share of Americans are in the labor force, and the workforce is getting more diverse.
Explanation:
your brother has just graduated from highschool and joined the marines. All of his friends who joined with him have received orders of deployment. He wants to know if he too will be deployed . What level of government handles this type of decision?
Could you please help me?
Answers
5 strategies can you employ to ensure that as a student you will not drop
out of university prematurely?
Answers
Answer:
Create your own network of friends who can support and motivate you when college life becomes too much. Do not isolate yourself. Remember the benefits that you will get after earning a degree, such as that sense of achievement, high self-esteem and better chances of a successful career.
Explanation:
The 5 strategies to not drop out of university as a student are:
Adequate planning of activitiesCreate networkRemember the benefit of earning degrees.Participation in sports.Seek career counselling.Plan your activities ahead not just for school but in other areas of your life. This means that if one works part-time, there should be arrangement of work schedule so as to have enough time for your studies.Create your own network of friends who can support and motivate you when college life becomes too much. Self isolation is not advisable.Remember the benefits that you will get after earning a degree, such as that sense of achievement, high self-esteem and better chances of a successful career.Active participation in sports so that one's environment become Stress free.Explore career options and be sure you’re in the program and subject area that you really want to be in.Conclusively, there are several strategies to avoid dropping out of university prematurely.
Learn more about strategies to prevent drop out of university prematurely here : https://brainly.com/question/14680255
Please help I don’t understand what to do, give me answer please
Answers
Answer:
Print Money-Federal Government Job
trade- federal government
borrow money-State government job
Issue bonds- state government(I am not sure about that one)
Banks- it depends(if national bank than federal, if other bank than state)
Collect taxes-Both
Spend on general welfare- federal(might be both)
Make treaties and foreign policy- Federal
Declare war- Federal
Explanation:
what is federal system?
Answers
In our lesson, we learned that the Constitution was written to protect
liberty (freedom)- yet it also recognized slavery. Why was this? *
Answers
Answer: The framers of the Constitution believed that concessions on slavery were the price for the support of southern delegates for a strong central government. They were convinced that if the Constitution restricted the slave trade, South Carolina and Georgia would refuse to join the Union.
Explanation: Basically, if the founding fathers decided to ban slavery in the constitution, South Carolina and Georgia were already prepared to out from the US (break off).
What step should you take first when drawing a conclusion?
A. First, you should consider all the facts and anything you know about them.
B. First, you should come to a conclusion about what the facts mean.
C. First, you should write down the facts and details from the text.
D. First, you should research the author to get to know her style.
Answers
Answer:
a
Explanation:
what is the meaning of institution
Answers
Answer:
A society or organization founded for a religious, educational, social, or similar purpose.
Answer:
Institution means a society/organization founded for a religious, educational, social, or similar purpose or an established law, practice, or custom.
Explanation:
Hope this helps. Correct me if I am wrong. Have a good one :)
what is peace culture
Answers
Answer:
The Declaration and Programme of Action on a Culture of Peace was adopted by the United Nations General Assembly on September 13, 1999. This occurred after ten months of negotiations in the context of preparations for the International Year for the Culture of Peace.
Explanation:
thermal enerfy is...
Answers
Answer + Explanation:
Thermal energy refers to several distinct physical concepts, such as the internal energy of a system; heat or sensible heat, which are defined as types of energy transfer; or for the characteristic energy of a degree of freedom in a thermal system kT, where T is temperature and k is the Boltzmann constant
Can someone please check my answer! FIRST PERSON TO ANSWER WILL GET BRAIN LIST A THANK YOU AND 5 STARS! I thank it is C or D
Which is not a duty of Muslims according to the Five Pillars of Islam?
making at least one pilgrimage to Mecca
regularly declaring the belief in one God
giving money that goes to the needy
confessing sins to local religious leaders
Answers
Answer:
i believe c
Explanation:
In excerpt from "President Barack Obama's State of the Union Address," what is President Obama's viewpoint on America?
America is better prepared for the twenty-first century than any other nation.
Inequality in American will worsen unless more of the federal budget goes to big business.
America must improve its economy dramatically to attract foreign investment.
Government leadership is responsible for the majority of progress in America over the past five years.
Answers
Answer:
D Government leadership is responsible for the majority of progress in America over the past five years
President Obama's viewpoint on America was government leadership is responsible for the majority of progress in America over the past five years. Thus, option D is correct.
What is Barack Obama best known for?He was the first African-American president of the United States and a member of the Democratic Party. Obama worked as a civil rights attorney prior to entering politics.
He previously represented Illinois as a U.S. senator from 2005 to 2008 as well as an Illinois state senator from 1997 to 2004. With his victory in the Senate primary in March, his well-received keynote address at the Democratic National Convention in July, and his resounding victory in the Senate election in November, Obama gained widespread prominence in 2004. He was chosen by the Democratic Party for president in 2008 following a competitive primary fight against Hillary Clinton, and he selected Joe Biden to be his running partner.
Therefore, we can conclude that option D is correct.
Learn more about Barack Obama here:
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Which of the following are the core beliefs and practices of Islam?
Your answer:
The Ten Commandments
The Torah
The New Testament
The Five Pillars of Islam
Answers
nearly 97 of the water on earth is unusable by humans because of its . the pack of usability is due to the fact that water . brainly
Answers
Answer:
answer is salinity and is a universal solvent
Explanation:
plato
Nearly 97% of the water on Earth is unusable by humans because of its salinity. This lack of usability is due to the fact that water is a universal solvent. Thus, option (b) and (a) is correct.
What is the meaning of universal solvent?Water is known as the "universal solvent" because it has the ability to dissolve more compounds than any other liquid. Throughout history, alchemists, and scientists have searched for a universal solvent, but no such chemical has ever been found.
Water is a universal solvent, which implies that it can dissolve a wide variety of chemicals, but about 97% of the water on Earth is too salty for people to use. Salts found in seawater prevent it from being drank.
As a result, the significance of the nearly 97% of the water on Earth is unusable by humans are the aforementioned. Therefore, option (b) and (a) is correct.
Learn more about on universal solvent, here:
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Your question is incomplete, but most probably the full question was.
Nearly 97% of the water on Earth is unusable by humans because of its 1.)___. This lack of usability is due to the fact that water 2.)___.
1.
A. temperature.
B. salinity.
C. impurities.
2.
A. is a universal solvent.
B. expands upon freezing.
C. is transparent.
5 things that were shared through cultural diffusion from China and Korea to Japan that became part of Japanese culture?
Answers
Answer:
Religion, Arts, Architecture, Government, and Foods
Explanation:
What was a Patriot? A a colonist opposed to British rule.B a British soldier opposed to British rule over the colonies. C a colonist who agreed with British rule.D a British soldier who agreed with British rule over the colonies
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Answers
HELLLLLLLLLPPPPPP 35 points for who gets it right
Answers
PLEASE HELLPP ILL GIVE A CROWN
Jackson broke the upper class's hold on government jobs by dismissing those who had not supported him and replacing them with his political backers. this practice is referred to as....
A ) The kitchen cabinet
B ) The spoils system
C ) The democratic system
D ) The "reign of king mob"
Answers
Is nepal beautiful then our country?
Answers
Answer:
Nope
Explanation:
Nepal, a small beautiful country, but once is not enough. Nepal, if not 'the one' but surely, she is one of the most beautiful countries in Asia. Nestled in the lap of the gigantic Himalayan Range, tiny land-locked Nepal has eight out of ten highest mountains in the world, including Mt.
which year was the fante federation formed
Answers
Answer:
1868
Explanation:
gay pride should be allowed
Answers
what do you mean isnt it already allow?
How did President Jackson reward his top supporters after he was elected?
Answers
Answer:
He felt that ordinary Americans were capable of doing government jobs. A Jackson supporter explained, “To the victor belong the spoils.” The practice of rewarding supporters with government jobs became known as the spoils system. Jackson rewarded a number of supporters with Cabinet jobs.
Explanation: