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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.
What else can I help you with?
Who decides where people will work in a centrally planned 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.
What is the definition of underdeveloped economy?
definition of underdevlop economy
What is a planned economy regulated by?
Planned Economies are regulated by a Governmental Ministry.
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.
In this type of economy the question of how many goods will be produces and supplied is not made by businesses?
Planned (command, centrally planned, or controlled) economy
Who decides where people will work in a centrally planned 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.
What are some disadvantages of planned economy?
One disadvantage of the planned economy is that there is inefficient resource distribution.
How is the economy of totalitarian govern states?
It is a Planned Economy
Why does Spain have a mixed 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
What is the definition of underdeveloped economy?
definition of underdevlop economy
What is a planned economy regulated by?
Planned Economies are regulated by a Governmental Ministry.
In this type of economy the question of how many goods will be produces and supplied is not made by businesses?
Planned (command, centrally planned, or controlled) economy
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 countries have planned economy?
korea
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.
In this type of economy the question of how many goods will be produced and supplied is not made by businesses.?
Planned (command, centrally planned, or controlled) economy
