Economy, asked by chaitanyazade7463, 11 months ago

Difference between planned economy and unplanned economy

Answers

Answered by Anonymous

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◆The primary differences lie in the division of labor, or factors of production, and the mechanisms that determine prices.

●The activity in a market economy is unplanned; it is not organized by any central authority but is determined by the supply and demand of goods and services.

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Answered by Cricetus

Difference between planned economy and unplanned economy

Explanation:

in planned economy decisions about economic activities are taken in advance by government or some central authority. while in case of unplanned economy decisions are not taken in advance rather they depend on the market forces.
in planned economy producers produce good according to the guidelines of the central authority while in unplanned economy producer are free to take decision about the production so they generally prefer those goods which have higher profit margin.
in planned economy government focuses on social welfare on the other hand in unplanned economy since government does not make major decisions in advance so people work for self interest.

Learn more:

Difference between planned economy and unplanned economy

https://brainly.in/question/8112851

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