Consider the following economic agents:
A.the government
B.consumers
C.producers
Who, in a centrally planned economy, decides what goods and services will be produced with the scarce resources available in that economy?
A)the government
B)producers
C)consumers
D)consumers and producers
E)the government, consumers, and producers

Question

Quizplus · Accepted Answer

In a centrally planned economy, the government makes all the decisions about what goods and services will be produced, how they will be produced, and for whom they will be produced, based on the government's assessment of society's needs and priorities. Consumers and producers have no say in this decision-making process.

Consider the Following Economic Agents