Which of the following terms best describes an economic system that combines elements of a market economy with elements of a command economy?

Question

Quizplus · Accepted Answer

Democratic socialism is an economic system that blends elements of both market economy and command economy. It allows for private property and market forces while also ensuring that the government has a strong role in regulating industries and providing public services. Communist systems are characterized by complete control of the economy by the government, while oligopoly refers to a situation in which there are only a small number of large firms dominating a market. Capitalism is a system in which most economic activity is driven by private individuals and businesses.

Which of the Following Terms Best Describes an Economic System