Discover how government intervention shapes market economies, and learn when an economy stops being considered a free market.

National economies can be run from the top down, so to speak, in what is sometimes called a command economy or they can be run from the bottom up in what is sometimes called a free market. In the ...

Command economy, which is also known as the planned economy, is the type of economy in which prices, income, production, investment, etc. everything is determined centrally by the government. In a ...