Question

Which of the following is NOT a weakness of centrally planned economies? A Most workers lack job security. B Consumers’ needs are generally not met. C Workers lack incentives to be innovative. D Individual freedoms are sacrificed for societal goals.

Answer 1

The answer to this question is A.

Answer 2

Answer: A: Most workers lack job security.

Explanation:

A centrally planned economy refers to an economy whereby the government makes economic decision. The decisions of what to produce, how to produce, where to produce and for whom are taken or decided by the government rather than or instead of the interaction between consumers and businesses. It is also known as a command economy.