An economy in which government overrides market forces to protect individuals and to guarantee citizens a minimum standard of living is called a

command economy

Explanation:

The central government regulates all key elements of a nation's economy and output within a command economy. Because the government regulates jobs and recruitment, unemployment is generally minimal, and mass unemployment is scarce. Workers can also be offered new employment opportunities based on an evaluation of their abilities by the government. State authority can immediately react to vital societal needs including education, housing, and healthcare.