A mixed economic system is best described an economy with a mix of
A) state and federal governments.
B) domestic and foreign buyers.
C) free markets and government control.
D) for-profit organizations and not-for-profit organizations.

Question

Quizplus · Accepted Answer

A mixed economic system combines elements of both free market (capitalism) and government control (socialism). In such a system, the market forces operate freely, but the government also intervenes in certain areas to regulate and promote social welfare. This allows for a balance between individual freedom and collective responsibility. A mixed economy is characterized by the coexistence of private and public ownership of resources, and a combination of voluntary exchange through markets and government intervention in the allocation of resources.

A Mixed Economic System Is Best Described an Economy with a Mix