Central planning is a key characteristic of which economic system?
A) free market
B) price system
C) command and control
D) mixed economic system

Question

Quizplus · Accepted Answer

Central planning is the foundation of a command and control economic system where the government is in complete control of the allocation of resources, production, and distribution of goods and services. It is the opposite of a free market system where businesses and consumers make decisions based on supply and demand signals, and the government's role is minimal. In a mixed economic system, both government and market forces play a role in resource allocation and production.

Central Planning Is a Key Characteristic of Which Economic System