Asked by Snowflake
Can somebody please explain what a market and mixed economy is? I am having trouble understanding it and I need to explain it in my project. Thanks!!=
Answers
Answered by
PsyDAG
From Internet:
Market Economy as per the Economics dictionary refers to an economic system in which the allocation of resources is determined solely by supply and demand in the market. Having said that, there are limitations on market freedom in some countries where governments intervene in free markets to promote competition, which might not be there otherwise. Mixed Economy. Mixed Economy refers to the market economy where both private and public enterprises participate in economic activity.
Market Economy as per the Economics dictionary refers to an economic system in which the allocation of resources is determined solely by supply and demand in the market. Having said that, there are limitations on market freedom in some countries where governments intervene in free markets to promote competition, which might not be there otherwise. Mixed Economy. Mixed Economy refers to the market economy where both private and public enterprises participate in economic activity.
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