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Features of Planned Economy
The command economies relies exclusively on the state. The government will decide what is made, how it is made, how much is made and how distribution takes place. The resources - factors of production - on behalf of the producers and consumers. Price levels are not determined by the forces of supply and demand but are fixed by the government.
Although division of labour and specialisation are found, the planned economies tend to be more self-sufficient and tend to take part in less international trade than market economies.
POPULATION SIZE AND DEMOGRAPHIC TRENDS a. Changes in Population The people of a country are its consumers. They provide the labour force for production. A study of
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