- command economy
- An economy in which the government determines industrial output, the *prices of products and services, and the allocation of economic resources. In a command economy, market forces are subdued or eliminated in favor of national economic planning. Few command economies exist in the early twenty-first century, following the collapse of the Soviet Union (and the subsequent withdrawal of support for its allies and satellites) in the late 1980s and early 1990s. Communist countries ranging from China to Cuba to Vietnam have embraced *free market principles to varying degrees. Further, the existence of Underground economies has tended throughout history to undermine the objectives of government planners.
Auditor's dictionary. 2014.
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command economy — ➔ economy1 * * * command economy UK US noun [C] (also controlled economy) ECONOMICS ► an economic system in which the government controls the type, supply, and price of the goods that are produced: »There is massive support for a shift from the… … Financial and business terms
command economy — noun An economy in which all means of creating wealth and business activities are controlled by government rather than market forces • • • Main Entry: ↑command * * * comˌmand eˈconomy 7 [command economy] noun = ↑ … Useful english dictionary
command economy — command economies N COUNT In a command economy, business activities and the use of resources are decided by the government, and not by market forces. ...the Czech Republic s transition from a command economy to a market system. Syn: planned… … English dictionary
command economy — UK / US noun [countable] Word forms command economy : singular command economy plural command economies economics an economic system in which the government controls business and the supply of goods in a country • See: market economy … English dictionary
Command Economy — A system where the government, rather than the free market, determines what goods should be produced, how much should be produced and the price at which the goods will be offered for sale. The command economy is a key feature of any communist… … Investment dictionary
command economy — Not to be confused with its associated feature the planned economy, the paradigm case is the neo Stalinist, centrally directed, state owned economy of the Soviet Union. A continuum can be elaborated, within which communist economic systems can be … Dictionary of sociology
command economy — Economic system in which the means of production are publicly owned and economic activity is controlled by a central authority. Central planners determine the assortment of goods to be produced, allocate raw materials, fix quotas for each… … Universalium
command economy — command′ econ omy n. an economic system that relies primarily on a central authority, as in China and Cuba • Etymology: 1980–85 … From formal English to slang
command economy — planned economy An economy in which the activities of firms and the allocation of productive resources is determined by government direction rather than market forces … Big dictionary of business and management
command economy — com,mand e conomy noun count an economic system in which the government controls business and the supply of goods in a country ─ compare MARKET ECONOMY … Usage of the words and phrases in modern English