A "mixed economy" is an economic system that: combines socialism and communism combines private and government ownership of the factors of production is owned collectively by the people emphasizes government-controlled monopolies
Added by Joseph S.
Step 1
A mixed economy is an economic system that incorporates elements from both capitalism and socialism. Show more…
Show all steps
Your feedback will help us improve your experience
Sanchit Jain and 70 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
Under _______, the government owns and operates selected major industries such as transportation, communications, and banking, but smaller businesses are privately owned. A. socialism B. mixed market conditions C. capitalism D. communism E. privatization
Sanchit J.
Which of the following represents an important difference between the U.S. and a socialist economy? Group of answer choices a. In a socialist system, the government conducts extensive research activities; in the U.S., it does not. b. In a socialist system, the government decides how much of each kind of good is to be produced; in the U.S., this is left entirely to business firms. c. The U.S. is an example of pure capitalism; a socialist system is an example of mixed capitalism. d. The socialist system relies more heavily on markets to answer the basic economic questions. e. In the U.S., most forms of capital are available to private ownership; in a socialist system, they are generally not.
Andrew D.
Which of the following indicates that an economy is a capitalist economy rather than a socialist economy? There are no industries in which one business has a monopoly over production. Essential services, such as health care and education, are administered by the government. The costs of finished items are determined by how much is available and what people are willing to pay. Workers are paid fair wages in accordance with their skills and abilities.
Joanna Q.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD