In a planned economy, also known as a command economy, a central authority (usually the government) controls the production and distribution of goods and services.
Posts tagged as “command economy”
Nowadays, there are three main economic systems, or the ways a government can organize its economy: Free Market, Command (Planned) and Mixed.
The four basic economic systems that exist in the modern economy include Centrally Planned Economy, Market Economy, Mixed Economy and Traditional Economies.