A __________ economy exists where some allocation of resources is made by the market and some by the government.

Question

Quizplus · Accepted Answer

In a mixed economy, there is a combination of market forces and government control. This means that there is some allocation of resources made by the market (i.e. supply and demand) and some allocation of resources made by the government (i.e. regulations and subsidies). Communist and command economies, on the other hand, are characterized by complete government control over the allocation of resources. Socialist economies typically involve more government control than a mixed economy, but still allow for some market forces.

A __________ Economy Exists Where Some Allocation of Resources Is