An economic system in which the government controls and regulates production, distribution, prices, etc.
define how you measure the size of the economy
define an inflationary economy
Planned Economies are regulated by a Governmental Ministry.
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.
define how you measure the size of the economy
One disadvantage of the planned economy is that there is inefficient resource distribution.
define an inflationary economy
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
Planned Economies are regulated by a Governmental Ministry.
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.
korea
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.
Planned (command, centrally planned, or controlled) economy