communist economy

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Related to communist economy: capitalist economy
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Noun1.communist economy - the managed economy of a communist state
managed economy - a non-market economy in which government intervention is important in allocating goods and resources and determining prices
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Outfitted with dresses, swimsuits, and sunglasses, the doll represented a sharp contrast to the way of life in the Soviet Union, where the centrally planned Communist economy for many years focused more on agriculture, defense, and housing than it did on consumer goods.
reap their rewards from a system which is in effect, though not in appearance, not much different from the communist economy of the old Soviet Union.
It was a communist economy, so the money was not real, and we would could take a long time in shooting a film, and we could build big sets.
The assets in a communist economy were intended to serve the social mission and were recorded in the balance sheet among other property, plant and equipment (as means of production).
Cuba announced it has decided to allow state companies to operate more freely in its latest step to open the island's communist economy to market forces, reports Agence France-Press (April 28, 2014):
Financial market pressure on Slovenia has lain bare how this tiny euro zone state achieved Europe's smoothest transformation from a Communist economy to a market-based model: it only went half way.