Characteristics of a Planned Economy?

Answer

Characteristics of a planned economy are features or qualities used to identify a planned economy. One of these characteristics is a lack of any consumer or producer sovereignty. You can go to http://www.dineshbakshi.com/as-a-level-economics/basic-economic-ideas/117-revision-notes/1349-planned-economies for more information.
Q&A Related to "Characteristics of a Planned Economy?"
A Planned economy, also known as a command economy, is an economic system in which the state directs the economy. The central government controls industry such that it makes all decisions
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A centrally planned economy is when the government makes the decisions about what will be produced, who will produce, when and how it be produced. Essentially, the government runs
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A centrally planned economy provides services such as
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In South Korea large conglomerates with operations throughout the world, including Samsung and Hyundai, dominate the market. Such conglomerates are called "chaebol" and,
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Command economy basic characteristics include a market that is controlled by the government or some other centralized force. In each case, this power has the ability ...
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