Centrally Planned Economy: Definition, Characteristics & Advantages

Instructions:

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question 1 of 3

Who makes the decisions in a centrally planned economy?

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1. Which one is not a characteristic of a centrally planned economy?

2. Which one is part of the definition of centrally planned economy?

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About This Quiz & Worksheet

This quiz and worksheet will assess what you know about the characteristics of a centrally planned economy. You will need to understand topics like who makes the decisions and what the characteristics are of such an economy.

Quiz & Worksheet Goals

These study tools will guide you along the following study points:

  • Define a centrally planned economy
  • Understand its advantages
  • Recognize what is true and what is not about its characteristics

Skills Practiced

This quiz and worksheet will address the following skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on the characteristics of a centrally planned economy
  • Interpreting information - verify that you can read information regarding who makes the decisions in a centrally planned economy and interpret it correctly
  • Information recall - access the knowledge you've gained regarding the parts of a centrally planned economy

Additional Learning

Want more knowledge of centrally planned economies and their characteristics? Then make use of this lesson called Centrally Planned Economy: Definition, Characteristics & Advantages, which will cover the following study points:

  • Define market economy
  • Realize the parts of a centrally planned economy
  • Understand how advantages can be used and proliferated
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