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A centrally planned economy has ...
- a)A large planning agency, many government employees, and many social benefits
- b)A large planning agency, many personal freedoms, and many social benefits
- c)Large military spending, incentive to work to benefit individuals, and a large bureaucracy
- d)Large military spending, a large bureaucracy, and many personal freedoms
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
A centrally planned economy has ...a)A large planning agency, many gov...
Another name for socialist economy is a centrally planned economy. In socialistic economy, government is the planning agency. Many industries are owned only by governments. Society at large will be benefited
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A centrally planned economy has ...a)A large planning agency, many gov...
Introduction:
A centrally planned economy is an economic system where the government controls and plans all aspects of production, distribution, and consumption of goods and services. In such an economy, a large planning agency, many government employees, and many social benefits are typically present.
A large planning agency:
- In a centrally planned economy, a large planning agency is responsible for making decisions about what goods and services should be produced, how much should be produced, and how they should be allocated.
- This agency is usually composed of government officials, economists, and experts in various fields.
- The planning agency analyzes data, sets targets, and formulates plans for the economy as a whole.
Many government employees:
- In a centrally planned economy, there is a significant number of government employees who are involved in various aspects of economic planning and management.
- These employees work in different sectors such as agriculture, industry, finance, and transportation.
- They play a crucial role in implementing the plans formulated by the planning agency.
Many social benefits:
- A centrally planned economy often emphasizes providing social benefits to its citizens.
- These benefits can include access to healthcare, education, housing, and social security.
- The government uses its control over the economy to ensure that these benefits are provided to all citizens.
Advantages of a centrally planned economy:
- The centrally planned economy allows the government to have greater control over the allocation of resources and the direction of economic development.
- It can help ensure that essential goods and services are provided to all citizens, regardless of their ability to pay.
- The government can prioritize the development of key sectors and industries that are considered important for the overall well-being of the country.
- The centrally planned economy can also help reduce income inequality by redistributing wealth and resources.
Conclusion:
A centrally planned economy is characterized by a large planning agency, many government employees, and many social benefits. This economic system allows the government to have significant control over the allocation of resources and the direction of economic development. While it has its advantages, it also has limitations, such as potential inefficiencies and lack of individual freedoms.
A centrally planned economy is an economic system where the government controls and plans all aspects of production, distribution, and consumption of goods and services. In such an economy, a large planning agency, many government employees, and many social benefits are typically present.
A large planning agency:
- In a centrally planned economy, a large planning agency is responsible for making decisions about what goods and services should be produced, how much should be produced, and how they should be allocated.
- This agency is usually composed of government officials, economists, and experts in various fields.
- The planning agency analyzes data, sets targets, and formulates plans for the economy as a whole.
Many government employees:
- In a centrally planned economy, there is a significant number of government employees who are involved in various aspects of economic planning and management.
- These employees work in different sectors such as agriculture, industry, finance, and transportation.
- They play a crucial role in implementing the plans formulated by the planning agency.
Many social benefits:
- A centrally planned economy often emphasizes providing social benefits to its citizens.
- These benefits can include access to healthcare, education, housing, and social security.
- The government uses its control over the economy to ensure that these benefits are provided to all citizens.
Advantages of a centrally planned economy:
- The centrally planned economy allows the government to have greater control over the allocation of resources and the direction of economic development.
- It can help ensure that essential goods and services are provided to all citizens, regardless of their ability to pay.
- The government can prioritize the development of key sectors and industries that are considered important for the overall well-being of the country.
- The centrally planned economy can also help reduce income inequality by redistributing wealth and resources.
Conclusion:
A centrally planned economy is characterized by a large planning agency, many government employees, and many social benefits. This economic system allows the government to have significant control over the allocation of resources and the direction of economic development. While it has its advantages, it also has limitations, such as potential inefficiencies and lack of individual freedoms.
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A centrally planned economy has ...a)A large planning agency, many government employees, and many social benefitsb)A large planning agency, many personal freedoms, and many social benefitsc)Large military spending, incentive to work to benefit individuals, and a large bureaucracyd)Large military spending, a large bureaucracy, and many personal freedomsCorrect answer is option 'A'. Can you explain this answer?
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A centrally planned economy has ...a)A large planning agency, many government employees, and many social benefitsb)A large planning agency, many personal freedoms, and many social benefitsc)Large military spending, incentive to work to benefit individuals, and a large bureaucracyd)Large military spending, a large bureaucracy, and many personal freedomsCorrect answer is option 'A'. Can you explain this answer? for CA CPT 2025 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about A centrally planned economy has ...a)A large planning agency, many government employees, and many social benefitsb)A large planning agency, many personal freedoms, and many social benefitsc)Large military spending, incentive to work to benefit individuals, and a large bureaucracyd)Large military spending, a large bureaucracy, and many personal freedomsCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA CPT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A centrally planned economy has ...a)A large planning agency, many government employees, and many social benefitsb)A large planning agency, many personal freedoms, and many social benefitsc)Large military spending, incentive to work to benefit individuals, and a large bureaucracyd)Large military spending, a large bureaucracy, and many personal freedomsCorrect answer is option 'A'. Can you explain this answer?.
A centrally planned economy has ...a)A large planning agency, many government employees, and many social benefitsb)A large planning agency, many personal freedoms, and many social benefitsc)Large military spending, incentive to work to benefit individuals, and a large bureaucracyd)Large military spending, a large bureaucracy, and many personal freedomsCorrect answer is option 'A'. Can you explain this answer? for CA CPT 2025 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about A centrally planned economy has ...a)A large planning agency, many government employees, and many social benefitsb)A large planning agency, many personal freedoms, and many social benefitsc)Large military spending, incentive to work to benefit individuals, and a large bureaucracyd)Large military spending, a large bureaucracy, and many personal freedomsCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA CPT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A centrally planned economy has ...a)A large planning agency, many government employees, and many social benefitsb)A large planning agency, many personal freedoms, and many social benefitsc)Large military spending, incentive to work to benefit individuals, and a large bureaucracyd)Large military spending, a large bureaucracy, and many personal freedomsCorrect answer is option 'A'. Can you explain this answer?.
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