Question

who allocates the resources in the centrally planned economy?​

Answer 1

Explanation:

A centrally planned economy or a command economy is one where the price and allocation of resources, goods and services is determined by the government rather than autonomous agents as it is in a free market economy.

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Answer 2

The central government allocates resources in a centrally planned economy.

Explanation:

1. A centrally planned economy is one where major decisions regarding economic resources are undertaken by the central government or a central authority.
2. The decisions regarding what to produce, for whom to produce, and how to produce or taken by the central authority only.
3. The resources are allocated to fill fill the objectives of the central government by the central authorities.
4. All the activities are supervised by the government in a centrally planned economy and private producers are not allowed to take any major decisions.