Command economy

noun

Definitions

Noun
  1. 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. 2
    A planned economy. broadly

Etymology

Calque of German Befehlswirtschaft (“command economy”).

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