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it controls all major sectors of the economy and formulates all decisions about their use and about the distribution of income

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14y ago
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10y ago

In a centrally planned economy, the central government decide which part of the country to allocate cash and which one not to.

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Q: Explain how a government is involved in a centrally planned economy?
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How is a government involved in a centrally planned economy?

In a centrally planned economy, the central government decide which part of the country to allocate cash and which one not to.


How is the government involved in a planned 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.


What is the role of government in a centrally planned 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.


What is the governments role in a centrally planned 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.


What is an economy controlled by the government?

An economy controlled by the government is called a centrally planned economy. It can also be referred to as a command economy.


What factors and resources does the government own in a centrally planned economy?

The factors and resources that the government owns in a centrally planned economy include decisions, pricing, and the entire market.


An economy in which only the government makes economic decisions is a?

Centrally Planned Economy


Whats called when the government controls the entire economy?

When the government controls the entire economy, it is called a centrally planned economy.


Who answers the key economic in a centrally planned economy?

the government


How would the Chinese economy be characterized?

china's economy is a centrally planned economy with a high level of government control


Who owns the land and the capital in the centrally planned economy?

the state or government


Who owns the land and the capital in a centrally planned economy?

the state or government