An economy in which government bureaucracy decides how much of a good to produce, how to produce the good, and who gets the good is known as a

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A centrally planned economy is one in which government bureaucracy makes all the economic decisions, including how much of a good to produce, how to produce it, and who gets it. This type of economy is also known as a command economy and is characterized by government ownership of resources and production. Examples of centrally planned economies include Cuba, North Korea, and the former Soviet Union.

An Economy in Which Government Bureaucracy Decides How Much of a Good