Because the government owns the factors of production in public lands, postal service, and some water resources, Great Britain is considered a(n):

Question

Quizplus · Accepted Answer

Great Britain is considered a mixed economy because it combines elements of a market economy, where private individuals own most of the factors of production, with elements of a command economy, where the government owns or controls some resources and services, such as public lands, postal service, and some water resources.

Because the Government Owns the Factors of Production in Public