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What is another word for nonmarket economy?

Pronunciation: [nˌɒnmˈɑːkɪt ɪkˈɒnəmi] (IPA)

A "nonmarket economy" refers to a system where resources are allocated and decisions are made by the government rather than through market mechanisms. This concept can be described using various synonyms to enhance understanding. One possible term is a "command economy", emphasizing the control exerted by the government in planning and directing economic activities. Another synonym is a "centrally planned economy", highlighting the centralized nature of economic decision-making. Additionally, the phrase "state-directed economy" could be used to emphasize the importance of government guidance in resource allocation. These synonyms aid in better comprehending the fundamental nature of a nonmarket economy and its distinguishing characteristics.
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What are the opposite words for nonmarket economy?

The term "nonmarket economy" refers to an economic system in which goods, services, and resources are allocated through government regulation rather than the free market. Antonyms for this term include "market economy," "capitalist economy," or "free-market economy." A market economy is one in which prices are set by supply and demand and businesses compete for customers without government intervention. A capitalist economy is a market-based system in which private individuals or companies own and control the means of production. A free-market economy is one in which there is no government intervention and buyers and sellers are free to engage in exchanges based on their own self-interest.

What are the antonyms for Nonmarket economy?

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