Question

Distinguish between Planned economy and Unplanned economy.

Answer 1

The distinction between planned and unplanned economy is less relevant today as no economy today is purely planned or purely unplanned. In other words, most economies are mixed economies having the properties of both the planned and unplanned economies. ... Innovation is the root of economic growth.

Answer 2

Planned economy and Unplanned economy.

Explanation:

• A planned economy is in which the economic activities are decided by some central authority. The market in economic activities depends on the role of market forces.

• In a planned economy the right to produce, producers are not free to decide the nature of produce. While in a market economy they are free to decide in order to maximize the profits.

• The planned economy aim at social welfare and self-interest is the main consideration for the market economy. They are also called unplanned economies.

Learn more about the distinguish between Planned economy and Unplanned economy.

• brainly.in/question/8112851 answered by  brajeshraja.