Managed Economy (Noun)
Meaning
A non-market economy in which government intervention is important in allocating goods and resources and determining prices.
Classification
Nouns denoting groupings of people or objects.
Examples
- The government implemented a managed economy to regulate the distribution of essential goods during the economic crisis.
- In a managed economy, the state plays a significant role in guiding the production and allocation of resources.
- The country's managed economy allowed the government to control inflation and stabilize the currency.
- Critics argued that the managed economy stifled innovation and led to inefficiencies in the allocation of resources.
- The government's decision to adopt a managed economy was seen as a response to the failure of the free market to address poverty and inequality.