Question

One of the distinguishing features of a Centrally Planned Capitalism economic system is:

A) all production resources are privately owned.
B) the state has broad powers to serve the public interest as it sees fit.
C) command resource allocation is utilized extensively in a private resource ownership environment.
D) market allocation policies are permitted within an environment of state ownership.
E) none of the above

Answer 1

In a Centrally Planned Capitalist economic system, the state has broad powers to serve the public interest, indicating a blend of government control with some elements of private ownership.

Step-by-step explanation:

The distinguishing feature of a Centrally Planned capitalist economic system is that the state has broad powers to serve the public interest as it sees fit. This differs from a pure command economy where the government owns and controls all means of production and from a pure market economy where resources and production are privately owned, and everything is governed by market forces. Centrally Planned Capitalism, often referred to as market socialism, mixes elements of both systems, with key industries potentially nationalized while other businesses remain privately owned and subject to some level of government regulation. In sum, the correct answer to the question is: B) the state has broad powers to serve the public interest as it sees fit.