Option 1 -> Control of central authority is a KEY feature of centrally planned economy.
Option 2 -> Ownership of resources by government is a fundamental characteristic of centrally planned economy.
Option 3 -> Consumer sovereignty means consumers decide what to produce through demand - this exists in market economies, NOT in centrally planned economies.
Option 4 -> Dominance of public sector over economic activity is a defining feature of centrally planned economy.
Hence, Option 3: Consumer sovereignty -> In a centrally planned economy, the central authority (government) makes all economic decisions about production, distribution, and consumption. Consumer sovereignty, where consumer preferences and purchasing power determine what goods and services are produced, is a characteristic of free market economies, not centrally planned economies. In command economies, the government decides what to produce based on national priorities and plans, not consumer demand. -> correct