central planning

Definition

The guidance of the economy by direct government control over a large portion of economic activity, as contrasted with allowing markets to serve this purpose.

Use central planning in a sentence

In order to plant our harvest accordingly, we reviewed the central planning guide before placing the order for our plants this season.

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I hated central planning with a passion because it had to do with government control and I didn't like when the government controlled things.

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Since they were on the central planning board they had the responsibility of the government in making suggestions and decisions for the economy.

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central loss fund Central Provident Fund (CPF)