In a centrally planned economy, the ________ plans all the important activities in the economy.
Government
In a centrally planned (command) economy, the government — through a central planning authority — decides what to produce, how much to produce, how resources are allocated and at what prices goods are sold. Private industrialists and individual citizens do not direct production; the judiciary only interprets law and plays no economic-planning role. Hence the correct fill-in is Government.
Similar Questions
Which of the following comes under the Quarternary sector?
Private ownership of the means of production is a feature of a _______ economy.
In ________ economies, all productive resources are owned and controlled by the government.
A situation where the expenditure of the government exceeds its revenue is known as _____.
Which among the following is not a direct tax?
Which tax causes a burden on the poorer section of the society?
Short run marginal cost curve cuts the short run average cost curve from _______ at the minimum point of short run average cost.
Goods for which demand move in the opposite direction of the income of the consumer are called?
If the ___________ firm has zero costs or only has fixed cost, the quantity supplied in equilibrium is given by the point where the average revenue is zero.
Who takes the decision regarding the savings and loan activities in a Self Help Group (SHG)?
Important Questions from Economy
When goods are produced by exploiting natural resources, it is an activity associated with:
A system in which local farmers were allowed to cultivate temporarily within a plantation is known as:
Which goods from India dominated the international textile markets before the age of mechanized industries?
Which type of farming is practiced in areas of high population pressure on land?
The major economic attribute for comparing countries is their:
