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planned economy

noun
1.
an economic system in which the government controls and regulates production, distribution, prices, etc.
Compare free enterprise.
Origin
1930-1935
1930-35
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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British Dictionary definitions for planned-economy

planned economy

noun
1.
another name for command 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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planned-economy in Culture

planned economy definition


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.
The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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