Question

12 Which of the following is not the characteristic of
a planned economy?
A Central planning authority
B Private ownership of resources
C Public ownership of resources
D Advocacy of social justice​

Answer 1

Explanation:

Economy

By JIM CHAPPELOW

Reviewed By GORDON SCOTT

Updated Jan 29, 2020

What is a Centrally Planned Economy?

A centrally planned economy, also known as a command economy, is an economic system in which a central authority, such as a government, makes economic decisions regarding the manufacturing and the distribution of products. Centrally planned economies are different from market economies, in which such decisions are traditionally made by businesses and consumers.

The production of goods and services in command economies is often done by state-owned enterprises, which are government owned companies. In centrally planned economies, which are sometimes referred to as "command economies", prices are controlled by bureaucrats

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