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Question
Which of these statements best describes a mixed economy?(1 point)
Responses
A. In Israel, the government plays a smaller role in the economy allowing for tech start up companies to thrive.
A. In Israel, the government plays a smaller role in the economy allowing for tech start up companies to thrive.
B. In Iran and Saudi Arabia, oil companies are government owned and operated.
B. In Iran and Saudi Arabia, oil companies are government owned and operated.
C. In remote parts of Southwest Asia, some people participate in an economy determined by custom and habit.
C. In remote parts of Southwest Asia, some people participate in an economy determined by custom and habit.
D. Turkey's economy was held back in the past by trade barriers in order to protect Turkish products.
D. Turkey's economy was held back in the past by trade barriers in order to protect Turkish products.
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Answers
GPT-4o mini
The statement that best describes a mixed economy is:
**A. In Israel, the government plays a smaller role in the economy allowing for tech start up companies to thrive.**
A mixed economy combines elements of both capitalism (where private individuals own and operate businesses) and socialism (where the government plays a role in regulating or owning certain industries). The statement about Israel illustrates how a mixed economy can support innovation and entrepreneurship while still allowing for some government involvement.
**A. In Israel, the government plays a smaller role in the economy allowing for tech start up companies to thrive.**
A mixed economy combines elements of both capitalism (where private individuals own and operate businesses) and socialism (where the government plays a role in regulating or owning certain industries). The statement about Israel illustrates how a mixed economy can support innovation and entrepreneurship while still allowing for some government involvement.