RRB RPF RPSF SI and CONS Model Papers 9 with solutions

(4) The concept of a planned economy is often associated with socialism and socialist planning, although such an economic system has not yet been established anywhere in the world.The traditional conception of socialism involves the integration of socially-owned economic enterprises via some form of planning, with direct calculation substituting factor markets.Planned economies are held in contrast to unplanned economies, specifically market economies.