Which of the following is NOT a characteristic of a centrally planned economy?

A) Consumers vote with their dollars thus guiding resources to produce what the society wants.
B) Government sets the prices.
C) The government decides how much of each good should be produced.
D) All of these statements are characteristics of centrally planned economy.

Centrally Planned Economy

A type of economic system where the government makes all decisions regarding the production and distribution of goods and services.

Consumers Vote

Refers to the concept where consumers express their preferences and influence market trends through their purchasing choices.

Government Sets Prices

A policy or situation in which the government directly controls or sets the prices of goods and services in an economy, rather than allowing them to be determined through free-market forces.