what is economic planning?
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Economic planning is a mechanism for the allocation of resources between and within organizations which is held in contrast to the market mechanism. ... In a centrally planned economy, the allocation of resources is determined by a comprehensive plan of production which specifies output requirements.
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Economic planning is a mechanism for the allocation of resources between and between organizations which is held in contrast to the market mechanism...In a centrally planned economy,the allocation of resources is determined by a comprehensive plan of production which specifies output requirements.
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