Question

how are resources allocated in a planned economics system

Answer 1

Natural resource economics focuses on the supply, demand, and allocationof the Earth's natural resources. ... Natural resources are either renewable or non-renewable depending on whether or not they replenish naturally. Natural resourceutilization is regulated through the use of taxes and permits

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.