(noun) An economy in which most goods and services are primarily produced, distributed, and exchanged through a central authority such as a government and not subject to the laws of supply and demand.
Audio Pronunciation: (com·mand e·con·o·my)
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- Plural: command economies
- The opposite of a command economy is a market economy and the combination of the two is a mixed economy.
- Also called:
- controlled economy
- planned economy
- Word origin of “command” and “economy” – Online Etymology Dictionary: etymonline.com
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- Society of Heterodox Economists: business.unsw.edu.au
- allocation of resources
- division of labor
- economic system
- market economy
- market exchange
- reciprocal exchange
- subsistence economy
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Wikipedia contributors. (N.d.) Wikipedia, The Free Encyclopedia. Wikimedia Foundation. (https://en.wikipedia.org/).
How to Cite the Definition of Command Economy
ASA – American Sociological Association (5th edition)
Bell, Kenton, ed. 2014. “command economy.” In Open Education Sociology Dictionary. Retrieved March 24, 2019 (http://sociologydictionary.org/command-economy/).
APA – American Psychological Association (6th edition)
command economy. (2014). In K. Bell (Ed.), Open education sociology dictionary. Retrieved from http://sociologydictionary.org/command-economy/
Chicago/Turabian: Author-Date – Chicago Manual of Style (16th edition)
Bell, Kenton, ed. 2014. “command economy.” In Open Education Sociology Dictionary. Accessed March 24, 2019. http://sociologydictionary.org/command-economy/.
MLA – Modern Language Association (7th edition)
“command economy.” Open Education Sociology Dictionary. Ed. Kenton Bell. 2014. Web. 24 Mar. 2019. <http://sociologydictionary.org/command-economy/>.