The role of Government would be highest in which of the following type of economy:

Question

Quizplus · Accepted Answer

In a socialist economy, the government plays a significant role in planning and controlling the economy, including the allocation of resources, production decisions, and distribution of goods and services. This contrasts with free market and mixed economies where the market forces have more influence, and the Keynesian economy, which focuses on total spending in the economy and its effects on output and inflation, but does not inherently dictate a high level of government control over the entire economy.

The Role of Government Would Be Highest in Which of the Following