Centrally planned economy

A centrally planned economy, also known as a command economy, is an economic system in which a central authority, such as a government, makes economic decisions regarding the manufacturing and the distribution of products. Centrally planned economies are different from market economies, in which such decisions are traditionally made by businesses and consumers—Read more at Investopedia. Chappelow, Jim. “Centrally Planned Economy.” 29 September 2019.