ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To own all of the goods and services
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To sell all of the goods and services
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Makes laws that help keep consumers safe by banning unsafe goods
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Stop people from buying the goods they need
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Detailed explanation-1: -Trade protection, subsidies, targeted tax credits, fiscal stimulus, and public-private partnerships are common examples of government intervention in mixed economies.
Detailed explanation-2: -In a mixed economy, some resources and businesses are privately owned while others are owned by the government, and both free markets and government intervention play a role in economic decision-making.
Detailed explanation-3: -In a capitalist economy, the government acts as a regulatory and complementary body. On the other hand, in a socialist economy, the government plays a comprehensive role in almost all economic activities, such as production, distribution, and consumption, of a nation.
Detailed explanation-4: -The government’s role in a mixed economy is that it is the: Regulator charged with preserving competition. Economic goals are important because they: Help people determine if an economic system meets their needs.