Question

In a mixed market economy, who makes most of the daily economic decisions?

Answer 1

The correct answer is individual citizen.

A mixed market economy is one in which there is some government involvement in the economy but mainly consists of individuals making decisions for their own benefit. In the United States, we have a mixed market economy. Based on this information, you can better understand why an individual citizen has a majority of the power in this system.

Everyday, millions of Americans have the ability to choose how they spend their money. This can range from buying food, to electronics, and almost anything inbetween. In this mixed market economy, individuals are not limited by the government in terms of what they can buy. Rather, their own personal finances are what may set limits on what they consume.

Answer 2

The correct option is (c) Individual Citizens.

Further Explanation:

In a mixed market economy, there is very less government involvement. The ‘economic decisions’ are taken by individuals those are benefited by this decision. It is a mixture of the market with state intervention. In other words, it is a mixture of private and public enterprise. In western countries, it is characterized by a predominance of private ownership. The main driving force is an accumulation of the capital.  The market has a varying degree of control and regulations by the government. The government influence indirectly through monetary and fiscalpolicies. The management of healthcare and physical infrastructure is regulated by the government. This is in contrast with Laissez-faire capitalism. The European model, the mixed economy is a type of capitalism where industries are privately owned and there are very few public utilities. The essential services are under public ownership. They also implemented the welfare state model. This model is supported by various political persuasions whether they were Centre right or Centre-left. The supporters of the mixed economy are Anthony Crosland, Andrew Stone field.

Learn More:

1. How did California differ from the United States in terms of interactions between whites and natives?

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2. Under the articles of confederation, if Virginia had ten thousand citizens and Delaware had five thousand citizens, how many votes would each state have in the legislature?

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Answer Details:

Grade: High School

Chapter: Market Economy

Subject: Social Science

Keywords:

Less government involvement, private, public enterprises, pre-dominance, private ownership, accumulation of the capital, monetary, fiscal policy, Laissez-faire capitalism, welfare state model.