Controlled market
From Wikipedia, the free encyclopedia
A controlled market is a situation where the state sets or controls the price of a good or service. This is done either either by setting the price directly by law, by creating a legally binding price floor or price ceiling, or by dictating production policies. This is in contrast to a free market, where private enterprise is autonomous in setting pricing and production policies. Controlled markets are prevalent in a command economy and minimal or non-existent in a capitalist economy.
