ECONOMICS
ECONOMIC SYSTEMS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
An economic system where resources are primarily controlled by the private sector
|
|
Command Economy
|
|
|
Free Market Economy
|
|
|
Mixed Economy
|
|
|
Traditional Economy
|
Explanation:
Detailed explanation-1: -Capitalism is often thought of as an economic system in which private actors own and control property in accord with their interests, and demand and supply freely set prices in markets in a way that can serve the best interests of society.
Detailed explanation-2: -free market, an unregulated system of economic exchange, in which taxes, quality controls, quotas, tariffs, and other forms of centralized economic interventions by government either do not exist or are minimal.
Detailed explanation-3: -A mixed economy is defined by the co-existence of a public and private sector.
There is 1 question to complete.