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planned economy
2 dictionary results for: planned economy
Dictionary.com Unabridged (v 1.1) - Cite This Source - Share This

planned economy

–noun
an economic system in which the government controls and regulates production, distribution, prices, etc.


Origin:
1930–35
American Heritage New Dictionary of Cultural Literacy, Third Edition - Cite This Source - Share This
planned economy

A type of economy in which some central authority makes a wide range of decisions pertaining to production and wages.

Note: The former Soviet Union and other communist nations are examples of planned economies.

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