Unintended Consequences of Planned Economies
Which of the following statements best describes an unintended consequence of a planned economy, as exemplified by the Soviet Union?
A
The Soviet Union’s Five‐Year Plans focused solely on consumer goods, resulting in surpluses but no quality improvements.
B
The Soviet Union’s Five‐Year Plans ultimately led to stagnation and shortages due to the lack of market incentives for innovation and efficiency.
C
The Soviet Union’s Five‐Year Plans were based on free‐market principles that led to hyper‐competition in industries.
D
The Soviet Union’s Five‐Year Plans ensured unlimited economic growth and eliminated resource shortages across all sectors.
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