Answer:
The answer to this question is given below in the explanation section.
Explanation:
An economy based on total government control over economic decisions is a
centrally planned economy or command economy.
This type of economy is totally controlled by the government. In this economy, all economic decisions are taken by the governement. such as a government, makes economic decisions regarding the manufacturing and the distribution of products. Centrally planned economy that is also known as the command economy is different from the market economy, in which such decisions are traditionally made by businesses and consumers.
