Which of the following is not a feature of centrally planned economy?

Consumer sovereignty.

The correct answer is Option (3) → Consumer sovereignty.

Centrally Planned Economy (Command Economy): In this type of economic system, a central authority (usually the government) makes all major economic decisions. This includes:

a. Control of central authority: The government decides what goods and services will be produced, how they will be produced, and for whom.

b. Ownership of resources by government: The state owns most of the productive resources (factories, land, capital).

c. Dominance over economic activity by public sector: State-owned enterprises are the primary producers and distributors.

Consumer sovereignty (freedom of consumers to choose what to buy) is limited or absent, as the government decides what and how much to produce → Not a feature