An economy primarily based on central planning is designated a planned economy; in a planned economy the allocation of resources is determined by a comprehensive plan of production which specifies output requirements.
In a centrally-planned economy the allocation of resources is determined by a comprehensive plan of production which specifies output requirements. An economy primarily based on central planning is referred to as a planned economy.
An economy primarily based on central planning is referred to as a planned economy. In a centrally-planned economy the allocation of resources is determined by a comprehensive plan of production which specifies output requirements.
An economy primarily based on central planning is referred to as a planned economy. In a centrally-planned economy the allocation of resources is determined by a comprehensive plan of production which specifies output requirements.