Question

Write a short note on centrally planned economy​

Answer 1

In a centrally planned economy, major economic decisions are made by a single central authority. Centrally planned economies stand in contrast to market economies where large numbers of individual consumers and profit-seeking private firms operate most or all of the economy.

Hope it helps uh.. ❤

Answer 2

Answer:

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

Hope this helps you.....

Please mark me brainliest....