Market economy

A market economy is determined by supply and demand, but a command economy operates through government control of resources and determines how they are used.

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A mixed economy is an economic system in which economic activity is directed by a mixture of private firms and the government.

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Vendors hawk goods at a market on Lagos Island, Nigeria, in this Photo of the Day from National Geographic.

A report out this week from the Urban Institute finds that almost half of Americans are having trouble paying for basic needs such as food and housing.

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Individuals and businesses in the EU can only thrive if the economy works for them. The EU’s unique social market economy allows economies to grow and to reduce poverty and inequality. With Europe on a stable footing, the economy can fully respond to the needs of the EU’s citizens.