What does "command economy" mean?

A planned economy in which the government (or some other central authority) is solely responsible for resource allocation, distribution and the setting of prices, with little to no market influence.

What is a synonym for "command economy"?

Common synonyms include: planned economy.

Command economy

noun

noun ·Rare ·Advanced level

Definitions

Noun

1
A planned economy in which the government (or some other central authority) is solely responsible for resource allocation, distribution and the setting of prices, with little to no market influence.
"Some scholars continue to blame the USSR's command economy for its 1991 collapse."
2
A planned economy. broadly

Synonyms

All synonyms

planned economy

Antonyms

All antonyms

economic liberal market-driven capitalism economic market

Example

More examples

"Some scholars continue to blame the USSR's command economy for its 1991 collapse."

Etymology

Calque of German Befehlswirtschaft (“command economy”).

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