I am trying to understand which economies are under the control of their respective governments. I want to know which countries or regions have economies that are significantly influenced or managed by government policies and interventions.
In contrast, a market economy operates without significant government intervention.
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A market economy relies on supply and demand dynamics to regulate economic activities and transactions.
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A command economy represents a system where the government exercises comprehensive control over economic activities and transactions.
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In a command economy, the state dictates the allocation of resources, production levels, and pricing strategies.
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