An economic system in which the government decides what, how, and for whom to produce, directs workers to jobs, and owns all the land and capital is

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Centrally planned socialism is characterized by government control over production, allocation of resources, and job assignments, as well as ownership of land and capital. This system contrasts with market capitalism, where market forces determine production and allocation, and mixed economies, which blend elements of both market and planned economies.

An Economic System in Which the Government Decides What, How