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)have a mix of traditional, command and market elements.
E)are complex systems that defy description and analysis.

Question

Quizplus · Accepted Answer

Most modern economies have a mix of traditional, command, and market elements. While market exchange plays a significant role, governments also have a hand in shaping economic policies, and traditional customs and beliefs also influence economic behavior. There is no economy that is purely market-driven or purely government-run.

Most Modern Economies in the World Today