Definitions for command economy
com·mand econ·o·my

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1. command 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.

How to pronounce command economy?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

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   Tessa

   South African

How to say command economy in sign language?

Numerology

1. Chaldean Numerology

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

2. Pythagorean Numerology

   The numerical value of command economy in Pythagorean Numerology is: 9

Examples of command economy in a Sentence

1. Howard Seaver:

   I suspect that what Bernie saw in Russia probably affected his views that you see today, where he is not anti-free-enterprise or capitalism but he wants to have a safety net and give a fair shake to all, but certainly not to have a command economy we saw in the Soviet Union.

References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Command_Economy