Which type of economy lacks incentives for people who work, frequently has poor-quality goods or shortages for their societal members.Group of answer choicesMixed EconomyMarket EconomyTraditional EconomyCommand Economy
Question
Which type of economy lacks incentives for people who work, frequently has poor-quality goods or shortages for their societal members.Group of answer choicesMixed EconomyMarket EconomyTraditional EconomyCommand Economy
Solution
The type of economy that often lacks incentives for workers and frequently has poor-quality goods or shortages for its societal members is the Command Economy. In this type of economy, the government or a central authority makes all the decisions regarding production and distribution of goods and services. This often leads to inefficiencies, lack of innovation and motivation, and sometimes shortages of goods.
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