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planned economy

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noun
  1. an economic system in which the government controls and regulates production, distribution, prices, etc.
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Origin of planned economy

First recorded in 1930–35
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

British Dictionary definitions for planned economy

planned economy

noun
  1. another name for command economy
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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

planned economy in Culture

planned economy

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

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Note

The former Soviet Union and other communist nations are examples of planned economies.
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.