Question

Who answers the key economic questions in a centrally planned economy? Governments, households, firms, or consumers

Answer 1

the government answers the key economic question in a centrally planned economy

Answer 2

The correct oprion is: "Governments"

The Central Planning Economy is defined as a type of economic system, characteristic of the communist countries, where the State owns and controls all production, especially industrial capital. The economies that adopted this type of economic system are also characterized by an economic planning centralized in the State, which also determines many important economic variables such as the price of the various goods, production levels, etc.