Question

What steps must countries take to transition to a mixed-market economy? Check all that apply.

Answer 1

Answer:

1. They must establish state-owned businesses.

2. They must establish a fair labour market.

5. They must open up trade to other countries.

Explanation:

The economic system which is combination of traditional, command and market economies is called mixed economy. It suffers from few disadvantages while it has the benefits of all three economies. Protection of private property, allowing the market and law of demand and supply to determine the prices and Being driven by the self interest of individuals. U.S.A, U.K and India are some examples of Mixed economy as in these countries government and the private sector perform economic activities.

So, if a country wants to transition to mixed economy then it must establish state- owned businesses, establish a fair labour market and open trade with other countries. Establishing state owned business and fair labour market is a characteristic of command economy while opening trade with other countries is feature or capitalist economy.

Answer 2

Answer:

1 , 3 , 5

Explanation:

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