Question

If you lived under an economic system in which the government controlled all aspects of production, which economic system would this be?

Answer 1

I think the answer is planned economy.

A planned economy is an economy in which production, investment, prices, and incomes are determined centrally by the government.

Hope this helps!

---JUSTAVERY

Answer 2

Planned economy systen

Step-by-step explanation:

Planned: A planned economy occurs when the state is the owner of the means of production, so it is up to the government to decide the quantity of production and the price. In this model, there are no private companies or competition. It's different from a market economy where private companies are the producers and suppliers of goods and services. In the planned economy, only the state decides and controls all production, price, and marketing of goods and services.