Which of the following is not a weakness of centrally planned economies?

Question

Most workers lack job security.

Individual freedoms are sacrificed for societal goals.

Workers lack incentives to be innovative.

Consumers’ needs are generally not met.

Answer 1

The statement "Most workers lack job security" is not typically considered a weakness of centrally planned economies. In fact, centrally planned economies often prioritize job security, as the state typically provides jobs for workers as part of economic planning.

In contrast, the other options listed—sacrificing individual freedoms for societal goals, a lack of incentives for innovation, and unmet consumer needs—are more commonly recognized weaknesses of centrally planned economies.