What does "planned economy" mean?

An economic system in which government directly manages supply and demand for goods and services by controlling production, prices, and distribution in accordance with a long-term design and schedule of objectives.

Planned economy

Q: What is a synonym for "planned economy"?

Common synonyms include: central planning, central planning term, centrally planned economy, command economy, concept of planning, coordinated planning.

noun

noun ·Rare ·Advanced level

Definitions

Noun

1
An economic system in which government directly manages supply and demand for goods and services by controlling production, prices, and distribution in accordance with a long-term design and schedule of objectives.

Synonyms

All synonyms

central planning central planning term centrally planned economy command economy concept of planning coordinated planning

Antonyms

All antonyms

traditional economy the market capitalist economy free market

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