Definitions for communist economy
com·mu·nist econ·o·my

Princeton's WordNetRate this definition:0.0 / 0 votes

1. communist economynoun

   the managed economy of a communist state

WikipediaRate this definition:0.0 / 0 votes

1. communist economy

   A planned economy is a type of economic system where the distribution of goods and services or the investment, production and the allocation of capital goods takes place according to economic plans that are either economy-wide or limited to a category of goods and services. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning. The level of centralization or decentralization in decision-making and participation depends on the specific type of planning mechanism employed.Socialist states based on the Soviet model have used central planning, although a minority such as the former Socialist Federal Republic of Yugoslavia have adopted some degree of market socialism. Market abolitionist socialism replaces factor markets with direct calculation as the means to coordinate the activities of the various socially owned economic enterprises that make up the economy. More recent approaches to socialist planning and allocation have come from some economists and computer scientists proposing planning mechanisms based on advances in computer science and information technology.Planned economies contrast with unplanned economies, specifically market economies, where autonomous firms operating in markets make decisions about production, distribution, pricing and investment. Market economies that use indicative planning are variously referred to as planned market economies, mixed economies and mixed market economies. A command economy follows an administrative-command system and uses Soviet-type economic planning which was characteristic of the former Soviet Union and Eastern Bloc before most of these countries converted to market economies. This highlights the central role of hierarchical administration and public ownership of production in guiding the allocation of resources in these economic systems.

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1. communist economy

   A communist economy is a type of economic system where all property, including land, labor, and capital, are collectively owned by the state or the community. It is based on the ideology of communism, wherein there is no private ownership and wealth is equally distributed among the population. The government or community makes all the decisions regarding production, distribution, and pricing of goods and services with the goal of achieving social and economic equality. Major economic and political decisions are typically made by a central authority.

Matched Categories

1. • Managed Economy

How to pronounce communist economy?

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Numerology

1. Chaldean Numerology

   The numerical value of communist economy in Chaldean Numerology is: 6

2. Pythagorean Numerology

   The numerical value of communist economy in Pythagorean Numerology is: 1

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=communist economy
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Communist_Economy
3. ^ ChatGPT
   https://chat.openai.com