If you lived under an economic system in which the government controlled all aspects of production which conic system would this be

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22-09-2017
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If you lived under an economic system in which the government controlled all aspects of production which conic system would this be

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Erudite1 Erudite1 · Answer 1 · 2017-09-22T19:59:11+02:00

Erudite1 Erudite1

22-09-2017

This type of economic system is called PLANNED ECONOMY.
In a planned economy, the government control all aspect of economic production; all decisions that have to do with production are controlled by the government. The government can also determine the prices of goods and services.

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