Final answer:
3) China is an example of a country with a planned economy, where the government exercises control over economic decisions, including production and distribution.
Step-by-step explanation:
An example of a country with a planned economy is 3) China.
A planned economy, also known as a command economy, is characterized by governmental control over all aspects of economic life, including production, distribution, and employment.
The government determines what goods are produced, how much is produced, and often the prices at which goods are sold.
While historical examples include the former Soviet Union, today's China represents a country that has historically had a planned economy but has incorporated market reforms.
However, China still retains many features of a planned economy, especially in terms of government control over key sectors and strategic direction.
Historically, planned economies such as China's have been associated with both benefits and drawbacks.
These systems were aimed at achieving a more equitable distribution of resources but have faced criticism for sacrificing economic efficiency, personal liberty, and choice.
While countries like China have reformed their economies towards incorporating some market mechanisms, the legacy of planning remains influential.