planned economy


Type of economy that gives the government total control over the allocation of resources. A planned economy alleviates the use of private enterprises and allows the government to determine everything from distribution to pricing. Planned economies basically give the government dictatorship type control over the resources of the country. Planned economies can provide stability, but also can limit the growth and advancement of the country if the government does not allocate resources to the innovative enterprises.

Use planned economy in a sentence

It was a planned economy and I did not like it because it was another thing that dealt with government control.

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You should try to figure out the best way to proceed when you are working with a planned economy for the long term.

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The planned economy increased the governments role in the business and commercial world of commerce and offering goods and services.

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plan sponsor planned unit development (PUD)