MANAGED ECONOMY

Pronunciation (US):

(GB):

 I. (noun) 

Sense 1

Meaning:

A non-market economy in which government intervention is important in allocating goods and resources and determining prices

Classified under:

Nouns denoting groupings of people or objects

Hypernyms ("managed economy" is a kind of...):

non-market economy (an economy that is not a market economy)

Hyponyms (each of the following is a kind of "managed economy"):

socialism; socialist economy (an economic system based on state ownership of capital)

mercantile system; mercantilism (an economic system (Europe in 18th century) to increase a nation's wealth by government regulation of all of the nation's commercial interests)

communist economy (the managed economy of a communist state)

Credits