A government that allows private firms to operate but with significant intervention by the government, which may include controlling ownership of sectors of the economy, is best described as having a ______ system of economy.

Question

Quizplus · Accepted Answer

A socialist system allows for private firms to operate but with significant intervention by the government in order to promote social and economic equality. This may include controlling ownership of certain sectors, regulating prices and wages, and implementing social welfare programs.

A Government That Allows Private Firms to Operate but with Significant