What is difference between free economy and controlled planned economy ?
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controlled planned economy
this are the economics where the economic activity our firmly controlled by the government or some Central authority .
economic decision or Driven by the motive of social welfare .
the consumer is not sovereign .
most resources are controlled by the government . the government decide at what price the goods are to be sold in the market.
public sector dominates the economic activity.
free economy
these are the economics where the economic activities are controlled by the market force .
economic decisions are driven by the motive of profit maximization.
the consumer is soveregin . the consumer buy goods according to his choice.
most resources are controlled by the people . the market determines the prices of goods and services.
private sector dominates the economic activity.
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controlled planned economy
this are the economics where the economic activity our firmly controlled by the government or some Central authority .
economic decision or Driven by the motive of social welfare .
the consumer is not sovereign .
most resources are controlled by the government . the government decide at what price the goods are to be sold in the market.
public sector dominates the economic activity.
free economy
these are the economics where the economic activities are controlled by the market force .
economic decisions are driven by the motive of profit maximization.
the consumer is soveregin . the consumer buy goods according to his choice.
most resources are controlled by the people . the market determines the prices of goods and services.
private sector dominates the economic activity.
✨✨ HOPE ITS HELP U... ✨✨
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What is difference between free economy and controlled planned economy ?four points Get the answers you need, now!
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✨✨hello here is your answer✨✨controlled planned economythis are the economics where the economic activity our firmly controlled by the government ... More
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