Market economies and command economies are opposing systems of economic production. The primary differences surround who controls the factors of production and how prices are determined.

There are 4 main types of economic systems known as economies: a command economy, a market economy, a mixed economy and a traditional economy. An understanding of the differences in types of economies ...

It was a command economic system. After the collapse of the Soviet Union, Russia experienced a wild privatization period where a small number of men gained control of Russia's greatest economic ...