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command economy

noun
1.
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.
Origin
1940-1945
1940-45
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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British Dictionary definitions for command-economy

command economy

noun
1.
an economy in which business activities and the allocation of resources are determined by government order rather than market forces Also called planned economy
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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