They did what they were told to do and earned what they were told they were going to earn despite what they may have desired.
In many ways this type of economy can be considered efficient. How can it not be when the government itself controls everything People work long hours for little payhow much better can it get The net profit theoretically should be significantly higher in a free market where prices and labor are not controlled. People could charge whatever they wanted and according to supply and demand they could be extremely successful. There are however more drawbacks than there are positive aspects to this type of economy. These drawbacks includ
Australian Economy ... A centrally planned economy allows full government intervention and the government makes all economic decisions without any input from individuals or businesses ... (13025
Vietnam Economy ... It is to systematically transform from the existing centrallyplanned economy to a market economy typically involving both the political and economic elements ... (279811
Economy ... operating with a great handicap, in that they were centrally planned and managed ... This controlled economy served the Soviets and their satellites rather well up ... (3211
Chinaamp39s Future Steps to A Better Ecomony ... Since 1978, Chinese leadership has been trying to move the economy from the sluggish Sovietstyle centrally planned economy to a more productive and flexible ... (12765
Economies ... The Soviets functioned under state socialism, which is a form of a centrally planned command economy. Their form of command economy succeeded on many levels. ... (18758
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