Nonmarket Economy

Nonmarket Economy

Summary of Nonmarket Economy

Essentially, an economy that is centrally planned, i.e., allocation of resources is directed by a governmental authority, rather than by market forces. For purposes of trade reporting and other reasons, the U.S. government defines the following states as nonmarket economies:

China Bulgaria

USSR Hungary

Yugoslavia Albania

Poland Mongolia

Romania Vietnam

German Democratic Cuba

Republic Korea, North

Czechoslovakia

(Main Author: William J. Miller)


Posted

in

, ,

by

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *