What is another word for command economy?
Pronunciation: [kəmˈand ɪkˈɒnəmi] (IPA) 
Command economy refers to a type of economic system that is managed and controlled by the government. It is also known as a centrally planned economy, as all economic decisions regarding production and distribution are made by a centralized authority. However, there are other synonyms for command economy, such as a socialist economy, state-directed economy, or government-controlled economy. These terms all refer to an economic system where the government plays a significant role in directing economic activity and regulating the supply and demand of goods and services. While command economies can promote stability, they can also lead to inefficiencies and decreased innovation due to lack of competition.
