Social Sciences, asked by kitokiba45, 1 month ago

What do you mean by planned economy?

Answers

Answered by aashigngwr

Answer:

an economic system in which the elements of an economy (as labor, capital, and natural resources) are subject to government control and regulation designed to achieve the objectives of a comprehensive plan of economic development — compare free economy, free enterprise.

Answered by KonikaGupta

Answer:

A planned economy is a type of economic system where investment, production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning.

Explanation:

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