In a socialist economy, the central planning authority is responsible for:

CA Foundation · Business Economics · MTP · January 2026
In a socialist economy, the central planning authority is responsible for:
(A) A. Only taxation policies
(B) B. Only foreign trade
(C) C. Major economic decisions including what, when, and how much to produce
(D) D. Maintaining law and order only

Suggested Answer and Working Notes:

Correct Answer: Option (C)

C. Major economic decisions including what, when, and how much to produce

Topics: Nature & Scope of Business Economics

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