Question

Economic planning is an essential feature of:
a) Capitalist economy
b) Socialist economy
c) Mixed economy
d) None of these

Answer 1

Answer:

a capitalist economy is correct answer

Answer 2

A capitalist economy relies on free-markets to determine, price, incomes, wealth and distribution of goods. A socialist economic system is characterised by greater government intervention to re-allocate resources in a more egalitarian way. There are also different aims of the economic systems.