ECONOMICS
BARRIERS TO TRADE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Market
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Command
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Traditional
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Mixed
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Detailed explanation-1: -Mixed economic systems are not laissez-faire systems, because the government is involved in planning the use of some resources and can exert control over businesses in the private sector. Governments may seek to redistribute wealth by taxing the private sector and by using funds from taxes to promote social objectives.
Detailed explanation-2: -In a mixed economy both market forces and government decisions determine which goods and services are produced and how they are distributed.
Detailed explanation-3: -mixed economy, in economics, a market system of resource allocation, commerce, and trade in which free markets coexist with government intervention.
Detailed explanation-4: -Examples include the economies of China, Norway, Singapore, and Vietnam-all of which feature large state-owned enterprise sectors operating alongside large private sectors.