10. Strengths and weaknesses of the three basic types of economies Imagine you are a consultant who has been asked to summarize the strengths and weaknesses of Directavia, a nation with a pure command...

Extracted text: 10. Strengths and weaknesses of the three basic types of economies Imagine you are a consultant who has been asked to summarize the strengths and weaknesses of Directavia, a nation with a pure command economy. Which of the following would you include in your report as weaknesses of Directavia's economy? Check all that apply. O Firms have no incentive to produce the so-called public goods, such as national defense, because private firms cannot prevent nonpayers from enjoying the benefits of public goods. O The economy cannot quickly change the type of goods being produced to meet new priorities. O Because government is responsible for all production, the variety of products tends to be limited. O Because nobody in particular owns resources, each person has less incentive to employ them in their highest-valued use, so some resources are wasted.