who makes key decisions in a centrally planned economy
Planned economy Planned economies are usually associated with Soviet-type central planning, which involves centralized state planning and administrative decision making.[5] In command economies, important allocation decisions are made by government authorities and are imposed by law.[6] 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”.
Economy of North Korea North Korea's economy is a centrally planned system, where the role of market allocation schemes is limited, though increasing.[8] Although there have been some small-scale reforms, as of 2015[update], North Korea continues its basic adherence to a rigid centrally planned command economy, and its reliance on fundamentally non-pecuniary (not readily quantified or valued in money) incentives. There has been economic reform, particularly after Kim Jong-un assumed the leadership in 2012, but reports conflict over particular legislation and enactment.[9][10][11][12][13][14]