BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An Economy that combines elements of the command and market economies.
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Command Economy
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Opportunity Cost
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Mixed Economy
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Capitalism
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Explanation:
Detailed explanation-1: -A mixed economic system has features of both a command and a free-market system. because it is partly controlled by the government and partly based on the forces of supply and demand.
Detailed explanation-2: -A mixed economy is a blend of market and command economies. In a mixed economy some parts or sectors of the economy are left to private ownership (market) while in other sectors there is substantial government ownership or government-directed production (command).
Detailed explanation-3: -A mixed economic system is a system that combines aspects of both capitalism and socialism.
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