So, if a country had relatively high

levels of government involvement

and regulation, which economy types

might this indicate?

The correct answer to this open question is the following.

So, if a country had relatively high levels of government involvement and regulation, which economy types might this indicate? The answer is a command economy.

In a command economy, it is the state that controls the economic system of the country. In total opposition to the free market economy, in a command economy, the state decides what to produce, when to produce, how much, and at what price. Employees have no extra incentives or bonuses to produce more or better. They are limited to what the state gives them.