Question

Which events would be more common in the command economy than a market economy? Select all that apply.(Select 2)

A. People with lower incomes have the same goods as the people with higher income.
B. People wait in long lines for cheap goods.
C. New businesses are staring to fill societies unmet needs.
D. A great deal of food in a market is thrown out because people wait in long lines for cheap goods.
E. Companies develop new and useful technology.

Answer 1

In a command economy, events such as people with different incomes having the same goods and waiting in long lines for cheap goods are more common than in a market economy due to the government's control over production and distribution.

Step-by-step explanation:

In a command economy, the government largely directs the production and distribution of goods and services, often leading to certain characteristics that are less common in a market economy. Based on this understanding, the events that would be more common in a command economy than in a market economy are:

• A. People with lower incomes have the same goods as those with higher incomes.
• B. People wait in long lines for cheap goods.

In command economies like those of Cuba and North Korea, the distribution of goods tends to be more equal regardless of individual income, as the government strives for equity. At the same time, since the government sets prices and there's no competition to increase efficiency, shortages and long lines for goods can occur. Unlike market economies, there is less incentive to improve production or develop new technologies, which can lead to stagnation and a lack of innovation.

Answer 2

A. People with lower incomes have the same goods as the people with higher income.

B. People wait in long lines for cheap goods.

Step-by-step explanation:

The command economy is a type of system in which the government plays the leading role in planning and regulating goods and services to be produced by the country. The state authority determines the type of goods and services to be produced and supplied, as well as the quantity and price that will be offered on the market. If this kind of economy is done in the right way, society favors social welfare and equity rather than profiting in this scenario, low-income people would have opportunities to own the same goods as higher-income people.

However, generally this kind of economy generates great shortage of products making people have great difficulties waiting in long lines for cheap goods.