Explain any two main features of centrally planned economy
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Two main features of a centrally planned economy are as follows: (i) In centrally planned economy, decisions relating to what, how and for whom to produce are taken by some central authority or by the government. (ii) Market forces are regulated and controlled by the government.
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4
Answer :
Two main features of a centrally planned economy are as follows:
(i) In centrally planned economy, decisions relating to what, how and for whom to produce are taken by some central authority or by the government
(ii) Market forces are regulated and controlled by the government.
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