Definitions
There is 1 meaning of the phrase
Socialist Economy.
Socialist Economy - as a noun
An economic system based on state ownership of capital
Synonyms (Exact Relations)
socialism13Hypernyms (Closely Related)
managed economyHyponyms (Broadly Related)
Example Sentences
"A socialist economy is characterized by government ownership and control of the means of production."
"In a socialist economy, resources are allocated based on the needs of the society."
"Cuba is often cited as an example of a socialist economy."
"A socialist economy aims to reduce income inequality through redistribution of wealth."
"China's socialist economy has seen rapid growth in recent decades."
