A planned economy is a type of economic system where investment and the allocation of capital goods take place according to economy-wide economic and production plans. A planned economy may use centralized, decentralized or participatory forms of economic planning.
Answer:
Command economy is discussed below.
Explanation:
A command economy is one that is regulated by a Union authority - regularly the government.
The government regulates the sources, allots the sources, directs the use of sources and the allocation of the goods produced by those sources.
Following a command economy, there is commonly a full job and special government can reply immediately in times of emergency.
