Which of the following is a negative feature of planned economy?
A
Prices determined by government
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
Inefficient economy
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
C
Government allocation of resources
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
None of the above
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution
The correct option is A Inefficient economy Under planned economy more focus is given to the welfare aspect and reducing inequalities. In doing so all the sectors of the economy might not work at the full potential. And hence the economy is inefficient.