Question

Most countries today operate under which of these economic systems? A. Participatory economy B. Command economy C. Mixed economy D. Free market economy

Answer 1

The third alternative is correct (C).

Almost any type of nation can have a mixed economy. A mixed economy mixes elements of private initiative and collective economic action, through government action. Most countries operate in mixed economies, including the US.

A mixed economy is one in which the assumptions of the free-market economy operate, but with some interference from the government aimed at ensuring general well-being. This is done through regulation or direct action through state-owned enterprises.