A-LevelEconomicsBasic economic ideas and resource allocation9708/12 · May/June 2012 · Q11 Mark

What is a characteristic of a planned economy?

AAll property is owned privately.

BAll resources are allocated centrally.

CSupply and demand always determine prices.

DThere is competition in most markets.

✓ Correct answer

B: All resources are allocated centrally.

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Topic: Basic economic ideas and resource allocation, A-Level Economics (syllabus 9708). Multiple choice, 1 mark.
Source: A-Level Economics, May/June 2012 Paper 1 Variant 2, question 1.

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