Question

In the nation of Hamsterville most goods, services, and resources are allocated in markets. However, some goods are provided by the government, such as healthcare and education.

Answer 1

The type of economic system Hamsterville has is referred to as mixed economy system.

What is Mixed economy system?

This type of market system is characterized by the coexistence of free market system with government interference.

We were told that some goods are provided by the government which depicts a mixed economy system.

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