Economy, asked by deep2533, 10 months ago

in a centrally controlled economy,all the means of a production are stated owned. True/False.Give reason.

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Answered by sangitakri123

0

Answer:

A centrally planned economy, also known as a command economy, is an economic system in which a central authority, such as a government, makes economic decisions regarding the manufacturing and the distribution of products. Centrally planned economies are different from market economies, in which such decisions are traditionally made by businesses and consumers.

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