When a price or market system is not used to determine what is produced, the alternative is:

a system of queuing.
a system of planning by managers or bureaucrats.
to rely on the needs of people to make decisions.
unclear because there really is no alternative to the market.


 What problem or problems have been much more serious in centrally planned economies than in market economies?

 Central planning has difficulty in getting both the right information and incentives to make decisions in the interests of consumers.
 Central planning has difficulty in getting the right information to make decisions in the interests of consumers, but is about as good in getting the incentives right.
 Central planning has difficulty in getting the right incentives to make decisions in the interests of consumers, but is about as good in getting the correct information.
 Central planning is neither better nor worse than the market in getting the right information and incentives to make decisions in the interests of consumers.

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