Title English:
centrally planned economies
Definition English:
An economic system in which economic decisions are made by the state or government rather than by the interaction between consumers and businesses. Unlike a market economy in which production decisions are made by private citizens and business owners, a centrally planned economy seeks to control what is produced and how resources are distributed and used. The production of goods and services is undertaken by state-owned enterprises.
Title Arabic:
الاقتصادات المخطّطة مركزياً
Title French:
planifications économiques centralisées
Domain:
Economic Development
Subject:
Economic Analysis
InformationType:
Term
SourceSymbol:
Language staff
Link: