A nation which has many active free markets in which profits motivate sellers and also regulatory bureaucracies would be an example of

Question

Quizplus · Accepted Answer

A mixed economy is characterized by the presence of both free market mechanisms and regulatory bureaucracies. In a mixed economy, private business and government coexist and play important roles in determining the allocation of resources and distribution of goods and services. Therefore, this option is the most appropriate answer to the given question. A free market (A) would not have regulatory bureaucracies, whereas a centrally planned economy (B) would not have active free markets. An equitable economy (D) does not accurately describe the economic system being described in the question.

A Nation Which Has Many Active Free Markets in Which