You live in a planned economy and want to open a business. The central authority decides how to allocate the productive resources.
A planned economy is whenever the government decides on production, prices, and investments, therefore having control of how resources are allocated. The idea of a planned economy is that it follows a plan of growth and therefore the government sees a necessity to control the economy. In a planned economy, the market does not play a role in the production or prices of goods. Nevertheless, a planned economy is not the same as a command economy. In a command economy, there is no private industry, since the industry is publicly owned.
