Most modern economies in the world today
A)are similar to feudal systems.
B)have pure market exchange.
C)are mostly run by government decree.
D)are complex systems that defy description and analysis.
E)have a mix of traditional,command and market elements.

Question

Quizplus · Accepted Answer

Most modern economies in the world today have a mix of traditional, command, and market elements. Traditional elements refer to customs and beliefs that influence economic activity, command elements refer to government control of certain aspects of the economy, and market elements refer to the exchange of goods and services through supply and demand in a market. Examples of economies with this mix include the United States and China.

Most Modern Economies in the World Today