A planned economy is characterized by:

Question

Quizplus · Accepted Answer

A planned economy is a type of economic system where the government, rather than the free market, determines what goods and services should be produced, how much should be produced, and how much they should cost. This involves government control over production and distribution, making option C the correct choice. A market economy and free enterprise economy are the opposite of a planned economy. The absence of socialism does not necessarily indicate a planned economy, as there are several other factors to consider.

A Planned Economy Is Characterized By