Advantages and disadvantages of trying to plan and predict what people will demand and allocating a country’s resources on price mechanism
The classic advantage and disadvantage is the same: you must rely on past data to predict future behavior. You can tweak the regression equation to account for changes in taste and various vectors, but not much else.
Copyright © 2024 1QUIZZ.COM - All rights reserved.
Answers & Comments
Verified answer
The classic advantage and disadvantage is the same: you must rely on past data to predict future behavior. You can tweak the regression equation to account for changes in taste and various vectors, but not much else.