What is another word for communist economy?
Pronunciation: [kˈɒmjuːnˌɪst ɪkˈɒnəmi] (IPA) 
A "communist economy" refers to an economic system that is characterized by state ownership of all means of production and the absence of private property. In other words, the government controls everything in this type of economy. Synonyms for "communist economy" include planned economy, command economy, and state-controlled economy. These terms all describe an economic system that is heavily regulated by the government. Other synonyms for "communist economy" might include collective economy, socialized economy, or centralized economy. These terms all speak to the idea that the economy is controlled and managed on behalf of the collective, rather than being driven by individual interests or market forces.
