Direct/Planned Economic System
-prices kept under control
-low level of unemployment
-less inequality of wealth
-lack of profit
-government decides which goods and services are produced
Where is this economic system found?
Would I like to live in this economic system?
I would not like to live in this economic system. Even though it's organized and everything, I personally do not like the fact that the only goods and services produced, are decided by the government. I feel like this system would come with lots and lots of taxes because one of the negatives was a lot of money is wasted. I also do not like this system because what's the point of wasting all this money if there is a lack of profit?