<P> Planned economies are usually associated with Soviet - type central planning , which involves centralized state planning and administrative decision making . In command economies , important allocation decisions are made by government authorities and are imposed by law . Planned economies are held in contrast to unplanned economies , specifically market economies , where production , distribution , pricing and investment decisions are made by autonomous firms operating in markets . Market economies that use indicative planning are sometimes referred to as `` planned market economies '' . </P>
<P> Planned economies are usually associated with Soviet - type central planning , which involves centralized state planning and administrative decision making . In command economies , important allocation decisions are made by government authorities and are imposed by law . Planned economies are held in contrast to unplanned economies , specifically market economies , where production , distribution , pricing and investment decisions are made by autonomous firms operating in markets . Market economies that use indicative planning are sometimes referred to as `` planned market economies '' . </P>
who makes key decisions in a centrally planned economy
who makes key decisions in a centrally planned economy
government authorities
government authorities