Central planning is a key characteristic of which economic s

Central planning is a key characteristic of which economic system?

Solution

Answer : Central planning is a key characteristic of Command and Control economy system. A command and control economy is a system where the government has decided about what goods should be produced, how much should be produced and prices are determined by the communist government.

In Command and Control Economy :

CRUX : For implementing the policies of command and control economy central planning is a key characteristic of there economy system.