A planned economy is one where the government owns and controls factors of production like land, capital and resources, and determines production levels. Cuba, North Korea and the former Soviet Union are examples of countries that have implemented planned economies. Planned economies lack freedom of choice for producers and consumers and provide little incentive for workers and managers, resulting in low morale and efficiency.

1. Planned
Economy
With Examples

2. What Is Planned Economy?
Under a command economy, governments own the
factors of production such as land, capital, and
resources, and officials determine when, where, and
how much is produced. This is also sometimes
referred to as a planned economy.

3. Examples Planned Economy
Some examples of
countries that have
command economies are
Cuba, north Korea and the
former soviet union.

4. Disadvantages
● No freedom of choice for producer or
consumers
● Lack of incentives for workers result in low
morale efficiency. Managers are also not
motivated.

5. Thank You
Name: Sony
Trade: Marketing Executive
Unit: 2