English translation: planning economy / plan economy
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A planned economy (also known as command economy and centrally planned economy) is an economic system in which the state or government controls the factors of production and makes all decisions about their use and about the distribution of income. In such an economy, the planners decide what should be produced and direct enterprises to produce those goods. Planned economies are in contrast to unplanned economies, i.e. a market economy, where production, distribution, and pricing decisions are made by the private owners of the factors of production based upon their own interests rather than upon furthering some overarching macroeconomic plan. http://en.wikipedia.org/wiki/Planned_economy
Kim Metzger Mexico Local time: 02:04 Native speaker of: English PRO pts in category: 24