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Definition of controlled economy noun from the Oxford Advanced Learner's Dictionary

controlled economy

noun
 
/kənˌtrəʊld ɪˈkɒnəmi/
 
/kənˌtrəʊld ɪˈkɑːnəmi/
(economics)
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  1. a type of economic system in which a government controls its country’s industries and decides what goods should be produced and in what amounts
See controlled economy in the Oxford Advanced American Dictionary
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