Usually means: Government directs economy's production resources.
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We found 4 dictionaries that define the word Central Planning:

General (3 matching dictionaries)
  1. central-planning: Wordnik
  2. central planning: Wiktionary
  3. Central planning: Wikipedia, the Free Encyclopedia

Business (1 matching dictionary)
  1. MoneyGlossary.com (No longer online)

Definitions from Wiktionary (central planning)

noun:  (economics) A mechanism for allocating resources centrally, as opposed to leaving it up to the free market.

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