Definitions for "Non-market economy"
A country in which most major economic decisions are imposed by government and by central planning rather than by free use of markets. Contrasts with a market economy.
an economy that is not a market economy
A national economy in which the government seeks to determine economic activity largely through a mechanism of central planning, as in the former Soviet Union, in contrast to a market economy which 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; hence, the public sector makes the major decisions affecting demand and supply within the national economy. See also: Group D, Macroeconomics, Market Economy, Private Sector, Public Sector, State Trading Nations