Planet Money Episode (SUMMER SCHOOL 2: Markets & Pickles: https://www.npr.org/2020/07/15/891488686/summer-school-2-markets-pickles) 2. What is a centrally planned...

 

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Planet Money Episode (SUMMER SCHOOL 2: Markets & Pickles: https://www.npr.org/2020/07/15/891488686/summer-school-2-markets-pickles) 2. What is a centrally planned economy? What are some of the problems associated with using central planning to allocate food to food banks? 3. How did the food banks implement a market system? What were the concerns? 4. What are the advantages of having the food banks adopt a market system? Did any aspect of the plan not work out? 5. What is an example of something you've experienced in real life where allocation is done in a centrally planned manner? What were the advantages/disadvantages of this approach? 6. Think of a situation where you personally experienced a shortage or surplus of a good. How did people respond to the situation? Did the market ever resolve the issue? Planet Money Episode (SUMMER SCHOOL 2: Markets & Pickles: https://www.npr.org/2020/07/15/891488686/summer-school-2-markets-pickles) 2. What is a centrally planned economy? What are some of the problems associated with using central planning to allocate food to food banks? 3. How did the food banks implement a market system? What were the concerns? 4. What are the advantages of having the food banks adopt a market system? Did any aspect of the plan not work out? 5. What is an example of something you've experienced in real life where allocation is done in a centrally planned manner? What were the advantages/disadvantages of this approach? 6. Think of a situation where you personally experienced a shortage or surplus of a good. How did people respond to the situation? Did the market ever resolve the issue?

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2 In a centrally planned economy the government or a central authority makes all decisions regarding production distribution and pricing of goods and ... View the full answer