PLANNED

ECONOMIC SYSTEM
Presented by:
Dontine Hinds, Andre Brooks,
Nathan Brown & Rajay Smith

School: Munro College Teacher: Mrs. Collins

 What is Planned
Economic System?
A planned economy is a type of economic
system where investment and the
allocation of capital goods take place
according to economy-wide economic and
production plans. A planned economy
may use centralized, decentralized or
participatory forms of economic
planning.
Disadvantages of Planned
Economic System
Consumers cannot choose and
only those goods and services are
produced which are decided by the
government.
Lot of time and money is wasted
in communicating instructions
from the government to the firms.
 Advantages of Planned
Economic System
Prices are kept under control and thus
everybody can afford to consume goods
and services.

Low level of unemployment as the

government aims to provide employment
to everybody.
 Features of Planned
Economic System
Ownership of Resources
All resources are owned and managed by the
government.

Role of Government
Government decides what to produce, how much to
produce and for whom to produce.
 Role of The Private Sector
The private sector is the part of a country's economic system that is
run by individuals and companies, rather than the government.
Most private sector organizations are run with the intention of making
profit.
Efficiency in Meeting The Needs of The Society
It tries to use the nation's capital, labor and natural
resources in the most efficient way food, housing, and
other basics to meet the needs of everyone in the
country.