Direct/Planned Economic System

Positives

-prices kept under control

-low level of unemployment

-less inequality of wealth

Negatives

-lack of profit

-money wasted

-time wasted

-government decides which goods and services are produced

Where is this economic system found?

-North Korea

-Cuba

-Turkmenistan

-Myanmar

-Belarus

-Laos

-Libya

-Iran

Dineshbakshi.com

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?