What is another word for planned economy?
Pronunciation: [plˈand ɪkˈɒnəmi] (IPA) 
A planned economy, sometimes known as a command economy, is a system in which the government directs and controls all resources and economic activities. There are several synonyms to describe this type of economy, including a controlled economy, a directed economy, and a centrally planned economy. Other related terms include state socialism and communist economy. These synonyms emphasize the idea that a planned economy is characterized by a centralized decision-making process, often dictating resource allocation in terms of production and distribution. While some may view this as a more efficient system, others may argue that it stifles innovation and individual freedoms.
