In a planned economy what predicts the demand of goods and services and coordinates the appropriate level of production of these goods and services.

Question

Business

Makenzie Leon

23 June, 02:14

In a planned economy what predicts the demand of goods and services and coordinates the appropriate level of production of these goods and services.

+4

Answers (1)

Know the Answer?

Melina Santana · Answer 1

The government

Explanation:

In the command economy, the government makes all economic decisions in the country. The command economy is also known as the command centrally planned economy. A central authority, which is the government decides what products will be manufactured, and they will be distributed.

The government makes economic plans for the country that outlines the level of production. It allocates resources required for production as per the plans. The government though its different agencies, owns the factors of production.