Planned Economies are regulated by a Governmental Ministry.
The government.
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.
Planned (command, centrally planned, or controlled) economy
The central administration is usually responsible for the command economy and the market economy. The command economy is usually a centrally planned economy whereby the prices and supply are regulated by the government other than the market forces.
China is no exception. China's traditional planned economy system is limited to state-owned enterprises, which are undergoing reform. ... The coexistence of the planned system and the market system, as well as governmental intervention and regulated policies, constitute China's mixed economy.
Efficency and Economies of scope in regulated economy
One disadvantage of the planned economy is that there is inefficient resource distribution.
The government.
The government.
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 (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.
It was self-regulated by the "invisible hand."
korea