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command economy
[ kuh-mand i-kon-uh-mee ]
noun
- a socialist economic system in which production and distribution of goods and services are controlled by the government and industry is mostly publicly owned.
command economy
noun
- an economy in which business activities and the allocation of resources are determined by government order rather than market forces Also calledplanned economy
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Word History and Origins
Origin of command economy1
First recorded in 1940–45
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Compare Meanings
How does command economy compare to similar and commonly confused words? Explore the most common comparisons:
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Example Sentences
The truth is that America did take a step down from having a war-time command economy.
From The Daily Beast
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