In a command economy, the government controls the production and makes most decisions. North Korea is an example of a command economy. It regulates property, prices of products, wages, and just about everything you can think of relating to running a business. The government determines what should be produced and who gets the profits. Just about all major industries and factories are run by North Korea. China was once a strict command economy, but, in recent years, it has allowed entrepreneurs and businesses to flourish.
