command economy

a socialist economic system in which production and distribution of goods and services are controlled by the government and industry is mostly publicly owned.
Compare market economy.

1940-45 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To command-economy
World English Dictionary
command economy
Also called: planned economy an economy in which business activities and the allocation of resources are determined by government order rather than market forces

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
Cite This Source
Copyright © 2014, LLC. All rights reserved.
  • Please Login or Sign Up to use the Recent Searches feature