non-market economy

(economics) A national economy or a country in which the government seeks to determine economic activity largely through a mechanism of central planning, as formerly in the Soviet Union, in contrast to a market economy that depends heavily upon market forces to allocate productive resources. In a “non-market” economy, production targets, prices, costs, investment allocations, raw materials, labor, international trade, and most other economic aggregates are manipulated within a national economic plan drawn up by a central planning authority, and hence the public sector makes the major decisions affecting demand and supply within the national economy.

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