planned economy
noun
an economic system in which the government controls and regulates production, distribution, prices, etc.
Compare
free enterprise.
Origin of planned economy
First recorded in 1930–35
Words nearby planned economy
plank-sheer,
planking,
plankter,
plankton,
planned,
planned economy,
planned obsolescence,
planned parenthood,
planner,
planning,
planning blight
British Dictionary definitions for planned economy
Cultural definitions for planned economy
planned economy
A type of economy in which some central authority makes a wide range of decisions pertaining to production and wages.
notes for planned economy
The former
Soviet Union and other communist nations are examples of planned economies.