command economy
A command economy is an economic system in which the government has centralized control over production, resource allocation, and pricing decisions, with little to no market influence or individual autonomy in economic activities.
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Related Concepts (2)
Similar Concepts
- command and control
- economic planning
- economic reforms
- economic rule
- economic systems
- free market economy
- government control
- government expenditure controls
- government intervention in the economy
- government oversight
- law of economy
- market economy
- parallel economy
- shared economy
- state-owned enterprises