What do you think is the more efficient or equitable system, Ask an Expert

Economics

What do you think is the more efficient or equitable system of running economy? (a) The capitalist system represented by competition and free market forces, or (b) The centrally planned system represented by a communist economy such as the former USSR or China today where planners made the decision about demand and supply of goods and services.

Please give reasons for your answer making sure to cover the important concepts of efficiency and equity of the system for both consumers and producers.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M93066034

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