Discuss the role of government in each of the different economic models: pure centrally planned, pure market, market economy, an

Question

Andre45 [30]

3 years ago

11

Discuss the role of government in each of the different economic models: pure centrally planned, pure market, market economy, an

d mixed economy

Social Studies

1 answer:

lesya692 [45] · Answer 1 · 2022-08-26T01:34:01+03:00

<span>Economic planning is a resource allocation mechanism that is contrasted with the market mechanism. As a coordinating mechanism for socialist economics, economic planning substitutes factor markets and is defined as a direct allocation of resources. This is contrasted with the indirect allocation mechanism of a market economy. There are various types that economic planning procedures and forms planning can take.</span>