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SOCIALIST ECONOMY
| Pronunciation (US): |  | (GB): | |
I. (noun)
Sense 1
Meaning:
An economic system based on state ownership of capital
Synonyms:
socialism; socialist economy
Classified under:
Nouns denoting groupings of people or objects
Hypernyms ("socialist economy" is a kind of...):
managed economy (a non-market economy in which government intervention is important in allocating goods and resources and determining prices)
Hyponyms (each of the following is a kind of "socialist economy"):
communism (a form of socialism that abolishes private ownership)
International (any of several international socialist organizations)
national socialism; Naziism; Nazism (a form of socialism featuring racism and expansionism and obedience to a strong leader)
