An economy where supply and price are regulated. see also socialism.

A type of economic system where the resources are state owned and their allocation and use is determined by the centralized decisions of a planning authority (e.g., the former Soviet Union).

Political authorities set prices and decide on quotas for production and consumption of each commodity according to a long term plan.

An economy in which most economic issues of production and distribution are resolved through central planning and control. View Capstone Lesson(s) that address this concept

"an economic system in which the government decides what will be produced, how it will be produced, who gets what is produced, and who owns and controls the major factors of production"

an economy in which the government determines prices and production; also called a centrally planned economy.

see "centrally directed" economy

An economy in which government makes most of the decisions about what goods and services will be produced, how they will be produced and how they will be distributed. (Compare Market economy.)

an economic system characterized by a central authority that makes most of the major economic decisions

an economy in which production is in the hands of the state rather than the hands of private enterprises

An economic system in which economic decisions made to answer the basic economic questions of “what”, “how”, and “for whom” is made by an authority such as a feudal lord or a government-planning agency.

An economic system in which government controls all or most factors of production and makes all or most production decisions.

A type of political economy in which the state assumes total control of virtually all significant factors of production. The state replaces or eliminates the role of private owners of land, labor, and capital, makes all production decisions, and determines the values of all goods. The state owns, plans, controls and regulates all major economic activity. Compare Market economy.

A mode of economic organization in which the key economic functions-- what, how, and for whom--are principally determined by government directive. Sometimes called a "centrally planned economy."

An economic system where decisions about resources are made by a central government authority.

except for human resources, most productive resources are owned and controlled by a central authority such as feudal lords or government planners. Those in power also decide what will be produced and how it will be distributed. Emphasis is placed on achieving social goals they establish. Cuba, North Korea and the former Soviet Union provide examples.

the central government makes the who, what and how decisions. These decisions are made by a small group of people and carried out by a large bureaucracy

An economy in which the most important financial and industrial interests are controlled by the state