Question

A mixed economy is a combination of which economic which economic system?

Answer 1

The correct answer is C) Free-market and command.

A mixed economy is used by the United States, as it has elements of both of these type of economic systems.

For example, the US has elements of free-market when citizens have the ability to decide how they spend their money. Along with this, businesses have the ability to choose what products they make and how much they charge for these goods/services.

The US also has elements of a command economy, as the government has agencies that control some elements of the economy. For example, the government can regulate trusts and monopolies and stop them from operating within the US.

Answer 2

A mixed economy is a combination of free-market and command economic system.

Further Explanations:

A mixed economy is a system that syndicates aspects of both capitalism and communism. The economic system protects private properties and allows a level of economic autonomy in the usage of capital, but at the same time allows governmental interference in its activities to achieve social aims. We can also infer that both private and state-owned bodies share governance of owning, manufacturing, marketing, and trading goods in the nation.

It is more advantageous that hazardous for any nation. An advantageous mixed economy usually possesses three characteristics as it protects private properties allowing a free market and determines the prices of goods as per the law and supply. Thus we can settle from the above stated fact that the mixed economy is a combination of free market as it is owned by a private entity and at the same time is a command economic system as is oversaw by an administration.

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Answer Details:

Grade: High school

Subject: Economy

Chapter :Economy

Keywords:

mixed economy, capitalism, communism, capital, governmental interference, social aims, private and state-owned, manufacturing, marketing, and trading goods, private properties, administration.