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command economy

[ kuh-mandi-kon-uh-mee ]
/ kəˈmænd ɪˌkɒn ə mi /
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noun
a socialist economic system in which production and distribution of goods and services are controlled by the government and industry is mostly publicly owned.

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Origin of command economy

First recorded in 1940–45
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

How to use command economy in a sentence

British Dictionary definitions for command economy

command economy

noun
an economy in which business activities and the allocation of resources are determined by government order rather than market forcesAlso called: planned 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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