When the government uses central planning to allocate resources and to determine output among various segments of the economy,this is known as:

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When the government uses central planning to allocate resources and to determine output among various segments of the economy, it is known as a planned economy. In such an economy, the government decides what goods and services to produce, how much to produce, and how they will be distributed. This is in contrast to a market economy where the allocation of resources and determination of output is largely left to the interaction of supply and demand in the market. A dictatorship or democracy refers to the political regime and system of governance in a country, and is not necessarily related to the type of economic system in place.

When the Government Uses Central Planning to Allocate Resources and to Determine