In a planned economy,the government uses central planning to allocate resources and determines output among various segments of the economy.

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In a planned economy, the government sets production goals and decides how resources will be allocated among different sectors of the economy. This is accomplished through central planning, which is the process of creating a detailed economic plan and directing resources to achieve the plan's goals. In contrast, in a market economy, prices and the actions of buyers and sellers determine the allocation of resources and the types and quantities of goods and services produced.

In a Planned Economy,the Government Uses Central Planning to Allocate