0
In a planned economy, the government centrally determines how resources are allocated, often through comprehensive economic planning. This includes setting production targets, determining the distribution of goods and services, and controlling prices. The aim is to meet the needs of the population and achieve specific economic and social goals, rather than relying on market forces. As a result, resource allocation can be more uniform and equitable, but it may also lead to inefficiencies and a lack of innovation.
What else can I help you with?
In a command economy what does the government not do?
The government does not decide what goods consumers buy in 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.
Explain how a government is involved in a centrally planned economy?
it controls all major sectors of the economy and formulates all decisions about their use and about the distribution of income
Which economy exist when resources are allocated by the government or other central authority?
planned economy exists
When a State planned economy transitions toward a free market economy they engage in privatization of resources. For privatization to be successful what must the State also do?
When a State planned economy transitions toward a free market economy they engage in privatization of resources. For privatization to be successful what must the State also do?
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.
In command economy the government does not do what?
Allocate resources.
In a command economy what does the government do?
Allocate resources.
What does government do in a command economy?
Allocate resources.
In a command economy the government does not do?
Allocate resources.
in a command economy the government do not do?
Allocate resources.
In a command economy what does the government not do?
The government does not decide what goods consumers buy in 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.
Explain how a government is involved in a centrally planned economy?
it controls all major sectors of the economy and formulates all decisions about their use and about the distribution of income
Which economy exist when resources are allocated by the government or other central authority?
planned economy exists
When a State planned economy transitions toward a free market economy they engage in privatization of resources. For privatization to be successful what must the State also do?
When a State planned economy transitions toward a free market economy they engage in privatization of resources. For privatization to be successful what must the State also do?
What if your friend is a business owner in a market economy. What decides how to allocate the productive resources he uses?
Central authority
