Centrally planned economies do not use the price system for anything.

Question

Quizplus · Accepted Answer

While centrally planned economies do limit or control the pricing of goods and services, they still use the price system to some extent. Prices are determined by the government rather than the market, but they are still used to allocate resources and determine the value of goods and services. Additionally, prices may still exist in informal markets or in the black market in these economies.

Centrally Planned Economies Do Not Use the Price System for Anything