An economy in which most decisions on resource allocation are taken by the government is known as:
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@@ The economy in which all the decisions related to allocation of resources are taken by government is known as.....SOCIALISM or SOCIALIST economy.....
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It's your answer........
@@ The economy in which all the decisions related to allocation of resources are taken by government is known as.....SOCIALISM or SOCIALIST economy.....
### Good luck !!!
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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.
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