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What is Planned economy ? Advantages and Disadvantages of Planned Economy

Submitted by frndzzz on Fri, 03/15/2019 - 11:56

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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What is Market economy ? Advantages and Disadvantages of Market Economy

Submitted by frndzzz on Fri, 03/15/2019 - 11:40

Check out Advantages and disadvantages of market economy (capitalism) given below. So let us find out some points on advantages and disadvantages to know more about market economy. This type of economy is nearly free fro governement interference, Economy is based on private ownership where individual control the production, distribution and sales of goods and services.

What is traditional economy ? Advantages and Disadvantages of Traditional Economy

Submitted by frndzzz on Fri, 03/15/2019 - 03:30

Find some Advantages and Disadvantages of traditional economy. So let us check out information on advantages and disadvantages to know more about traditional economy.  In this type of economic system every person has a specific role in the society that is defined by its customs and traditions, traditional economy is based on simple industry and agriculture.

Advantages and Disadvantages of International Trade

Submitted by frndzzz on Fri, 05/18/2018 - 02:16

Check out Advantages and Disadvantages of International Trade discussed below. So let us find out some information on advantages and disadvantages to know more about International Trade. It is a trade between nations in the form of imports as well as exports. International trade can be considered one of the important souce of revenue in the developing countries. Trade between countries is the exchage of both services and goods among the countries of the world economy.

Advantages and disadvantages of Advertisement in Points

Submitted by frndzzz on Sat, 04/28/2018 - 01:55

Check out Advantages and Disadvantages of Advertisement in Points which are discussed below. So let us find out some points on advantages and disadvantages to know about advertisement.

Advantags of Advertisement in points are :

Advertisemet can be used to build brand Loyalty.

Advertisement creates ground for personal selling.

Advertisement helps to communicate information to the people.

It also helps to educate people.

Advertisement creates image for the products of services in the market.

It helps to build goodwill.

Advantages and Disadvantages of Niche Marketing

Submitted by frndzzz on Thu, 01/17/2019 - 02:12

Advantages and Disadvantages of Niche Marketing are as follows, So let us check it out one by one.

Advantages:

The following are the advantages of niche marketing :

1. Less Competition

Niche marketing has comparatively quite less market competition for the viable competitors purchasing services or products.It helps business to build their brand loyalty.

Supply Chain Management Definition, Advantages and Disadvantages

Submitted by frndzzz on Tue, 01/08/2019 - 00:13

Definition of Supply Chain Management

Supply Chain management can be considered as an effective tool for improving business process. It starts with the source of supply and competes at the point of consumption. Supply chain management is a flow of information and materials from suppliers which involves number of value added process and different distribution channels to the customers. 

Supply chain management involves :