State another name of a planned economy.

Mixed economy

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Capitalist economy

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Socialist economy

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Market Economy

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Solution

The correct option is D Socialist economy
Socialist economy is a type of planned economy. Planned economy is when the economic factors like production, income distribution, prices are under the control of the Government and are decided accordingly. Due this it is synonyms with socialist economy.

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Distinguish between a centrally planned economy and a market economy.

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