Question

Use the drop-down menu to select the type of economy that matches the description.

Answer 1

Answer:

The correct answer for each of the descriptions is the following:

1. The Command economy
2. Mixed Market Economy
3. Market Economy

Explanation:

• A command economy is a system where the government, rather than the free market, determines what goods should be produced, how much should be produced, and the price at which the goods are offered for sale. This type of economy matches that of a communist society.
• The mixed economy refers to an economic model that uses the market to allocate resources, but in which the State intervenes to regulate its operation, incorporates elements of the free market economy and the planned economy, or a proposal in which the private ownership of capitalism and the collective ownership of socialism coexist in order to include broader social considerations in an economic system.
• Market economy means the organization and allocation of the production and consumption of goods and services that arises from the game between supply and demand. The characteristic that defines the importance of the market economy is that decisions on investment and the allocation of production goods are made mainly through markets and the government has no involvement.

Answer 2

Answer: the correct answers are command economy mixed market economy and pure market economy

Explanation:

These are the answers to the question you are asking