African countries have a mixed economic system located on a continuum between pure market and pure command. Which of the following statements accurately reflects this concept?(1 point)

Question

Responses

Pure market economies rely solely on government directives to allocate resources efficiently, while pure command economies allow market forces to determine resource allocation.

Mixed economies combine elements of both market and command systems, with government intervention and market forces influencing resource allocation to varying degrees along a continuum.

Pure market economies are entirely devoid of government influence, while mixed economies grant government full control over resource allocation decisions.

Command economies strictly adhere to supply and demand dynamics, whereas mixed economies are characterized by a complete absence of market-driven decisions.

Answer 1

The statement that accurately reflects the concept of mixed economic systems is:

Mixed economies combine elements of both market and command systems, with government intervention and market forces influencing resource allocation to varying degrees along a continuum.

This statement correctly captures the essence of mixed economies, which incorporate both market mechanisms and government involvement in economic decision-making.