Thecentral governmenthas total control over the distribution of economic resources as well as the prices of products and services in centrally plannedeconomies, often known as command economies.In a centrally planned economy, thegovernmentdecides what commodities and services will be produced and in what quantities, without taking into accountcustomerpreferences and wants. As a result, there is frequently a mismatch between what is produced and what customers desire to buy. As a result, items are eitheroverproducedor in short supply, resulting in shortages orsurpluses, and prices are frequently set arbitrarily low or high, leading to additional market inefficiencies. Furthermore, in a centrally planned economy, there are frequently insufficient incentives for enterprises to improve.learn more aboutgovernmenthere:brainly.com/question/16940043#SPJ4...

Unlock to view answer

Unlock full access for 72 hours, watch your grades skyrocket.

For just $0.99 cents, get access to the powerful quizwhiz chrome extension that automatically solves your homework using AI. Subscription renews at $5.99/week.