Which of the following best describes why the mixed economy is the dominant economic system in the world?

Question

Quizplus · Accepted Answer

The mixed economy is the dominant economic system in the world because it incorporates both private ownership of property and government regulation of individuals, which reduces some of the flaws of pure capitalism such as income inequality and monopolies. It is widely adopted as it provides a balance between free market principles and government intervention. Both A and B are incorrect because custom and religion do have an influence on economic decisions in some mixed economies, and pure capitalist economies have not placed more control in the hands of individuals in recent years. Option C is incorrect because public ownership of resources is not a defining characteristic of mixed economies.

Which of the Following Best Describes Why the Mixed Economy