ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A miture of command and market econommies
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Most countries are pure market economies
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Most countries are pure command economies
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A mixture of traditional and market economies
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Detailed explanation-1: -In practice, most countries of the world are mixed economies, although some are more market-oriented and others are more state-led.
Detailed explanation-2: -This is a central economic objective which is the aim for allocating resources and production. Examples of a command economy include the likes of China, North Korea, Cuba, Russia, and Vietnam.
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.