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What is Planned economy ? Advantages and Disadvantages of Planned Economy

Find out Advantages and disadvantages of planned economy (command economy) listed below. So let us check out points on advantages and disadvantages to know more about planned economy. This type of economy system is controlled by governement. In Planned economy, government decides how much is produces, what to produced, the methods of the production and the price of goods or services.

Some points on Advantages of planned economy are:

  1. In planned economy wealth and income can be more evenly distributed.
  2. Little unemployement is seen in planned economy.
  3. Profits in planned economy is used to expand production of goods or services.
  4. Production of services or goods is pre planned to meet needs of people in a society.
  5. Consumer receives basic necessities
  6. Welfare of citizes is the primary goal of govenment
  7. In planned economy business cannot act against the interest of people
  8. Wasteful competition is avoided in planned economy.
  9. Public goods and services such as healthcare, education , housing is provided to the people

Some points on Disadvantages of planned economy are:

  1. Lack of incentives to work hard in planned economy
  2. Sometimes poor quality of goods and shortages 
  3. Failure to meet set ideals  or consumer needs.
  4. Lack of varieties of goods and services
  5. Consumers can choose only those goods or services which are produces and decided by the government

Some Advantages & Disadvantages of Market Economy
Some Advantages & Disadvantages of traditional Economy
Some Advantages & Disadvantages of Mixed Economy


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Examples of Acids and Bases

Examples of Acids and Bases are as follows , so let us check it out some information on Acids and Bases to know more about it.

Examples of Acids are:

  1. Hydrochloric Acid
  2. Nitric Acid
  3. Sulfuric Acid
  4. Oxalic Acid
  5. Hydrophosphoric Acid
  6. Nitrous Acid
  7. Chloric Acid
  8. Bromic Acid
  9. Fluoric Acid
  10. Chromic Acid etc...........

Examples of Bases are:

Full Form of MOT,MBBS

Master of Occupational Therapy (MOT) is a professional degree program offered by various health care schools.(Other full form and meaning  of MOT are also available) So check it out other articles related to the given term.

MBBS - Bachelor of Medicine, Bachelor of surgery (Degree awarded by medical  school).