A planned economy or directed economy is an economic system in which the government or workers' councils manages the economy. It is an economic system in which the central government makes all decisions on the production and consumption of goods and services. Its most extensive form is referred to as a command economy,centrally planned economy, or command and control economy
A command or planned economy takes the economic health out of the hands of free markets and places the economic fate of a nation into the hands of bureaucrats. At its worse, the government decides that it will own the means of production. There have been few successes based on economic planning. The only time when it can help a nation is during a severe war, where the military, for example, requires the manufacturing of weapons.
An economy where a government has the responsibility of allocationg resources.
a planned economy system is one which is owned and controll by government enterprises
All resources in a country are owned by the state.
I don't quite understand your question, isn't the definition of a centrally-planned economy one in which the government plans the economy? I imagine that in most centrally planned economic schemes the government would either determine the prices or set a cap for essential goods.
In a centrally planned economy, the government is completely in charge of the economy. There is no reward for individual hard work. The government tells everyone what to do.
definition of underdevlop economy
Planned Economies are regulated by a Governmental Ministry.
Planned (command, centrally planned, or controlled) economy
I don't quite understand your question, isn't the definition of a centrally-planned economy one in which the government plans the economy? I imagine that in most centrally planned economic schemes the government would either determine the prices or set a cap for essential goods.
One disadvantage of the planned economy is that there is inefficient resource distribution.
It is a Planned Economy
both the government and the public control the economy, were as Russia is a planned economy because everything is planned and the government has full control
definition of underdevlop economy
Planned Economies are regulated by a Governmental Ministry.
In a centrally planned economy, the government is completely in charge of the economy. There is no reward for individual hard work. The government tells everyone what to do.
Planned (command, centrally planned, or controlled) economy
In a centrally planned economy, the government is completely in charge of the economy. There is no reward for individual hard work. The government tells everyone what to do.
In a centrally planned economy, the government is completely in charge of the economy. There is no reward for individual hard work. The government tells everyone what to do.
korea
Planned (command, centrally planned, or controlled) economy