Qualification > Commerce

ALL ECONOMICS DISCUSSION, PAPERS HELP HERE!!

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BlackBunny103:

--- Quote from: Arsenal<3 on June 10, 2010, 12:40:14 pm ---because in a planned economy goods are distributed according to the needs of the population and not what amount of money they have

--- End quote ---

Thanxx, but I still don't get why the answer is A. And what is the unit of account?

elemis:

--- Quote from: BlackBunny103 on June 10, 2010, 12:37:03 pm ---Hey guys, can you please explain to me why the answer of this question is A? I put B though. And what is meant by the unit of account?
Thanxx :D

--- End quote ---

Money exists in a planned economy and people were definitely trying to use it in this scenario to buy goods (hence the queues)
So A is wrong

This is a planned economy and has NOTHING to do with a market economy  so B is wrong

C is correct since in Planned economies the gov produces goods by allocating resources but it usually is unaware of what consumers want.
So people often queue up to get whatever few goods that they WANT before they are sold off.

elemis:

--- Quote from: BlackBunny103 on June 10, 2010, 12:45:34 pm ---Thanxx, but I still don't get why the answer is A. And what is the unit of account?

--- End quote ---

ITS NOT A !!!!!!!!!!

ITS C !!!!  Look at the MS I attached at the top of this page.

BlackBunny103:

--- Quote from: Ari Ben Canaan on June 10, 2010, 12:46:15 pm ---Money exists in a planned economy and people were definitely trying to use it in this scenario to buy goods (hence the queues)
So A is wrong

This is a planned economy and has NOTHING to do with a market economy  so B is wrong

C is correct since in Planned economies the gov produces goods by allocating resources but it usually is unaware of what consumers want.
So people often queue up to get whatever few goods that they WANT before they are sold off.


--- End quote ---

OMG this is lame, I looked at the wrong answer from the mark scheme >.<.

Oh right, didn't notice the word "market" system, that's why I have to read the question more carefully. :-\
Thanxx I get it now :D

elemis:
Hang on

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