Question

The economy of Australia is

A.
close to a pure market economy.

B.
close to a pure command economy.

C.
a command economy, with elements of a market economy.

D.
a market economy, with elements of a command economy.

Answer 1

D. a market economy, with elements of a command economy.

Australia is a mixed economy — largely market-driven (private ownership, price signals) with significant government intervention (regulation, social welfare, public services, and macroeconomic policy).