🏛️command economy

noun
kəˈmɑːnd ɪˈkɒn.ə.mi

Meaning

An economic system where economic activities are controlled by the government.

Example Sentences

In a command economy, the government controls production and prices.

Synonyms

Planned Economy, State-controlled Economy, Centralized Economy

Antonyms

Free Market Economy, Capitalism, Deregulated Economy

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