Question

Who controls economic activities under centrally planned economies?

• A. Industrialists
• B. Private firms
• C. Government
• D. Consumer

Answer 1

The correct option is C Government

The government controls economic activities under centrally planned economies A centrally planned economy, also known as a command economy, is an economic system in which a central authority, such as a government, makes economic decisions regarding the manufacturing and the distribution of products. Centrally planned economies are different from market economies in which such decisions are traditionally made by businesses and consumers.