ECONOMICS
ENTREPRENEURS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
a pure market economy in which the government plays no role in the economy
|
|
|
a pure command economy in which the government controls the economy
|
|
|
a mixed economy in which suppliers and consumers play the primary role
|
|
|
a socialist economy in which suppliers and consumers play the primary role
|
Detailed explanation-1: -The U.S. has a mixed economy, exhibiting characteristics of both capitalism and socialism. Such a mixed economy embraces the free market when it comes to capital use, but it also allows for government intervention for the public good.
Detailed explanation-2: -For example, the United States is a mixed economy, as it leaves ownership of the means of production in mostly private hands but incorporates elements such as subsidies for agriculture, regulation on manufacturing, and partial or full public ownership of some industries like letter delivery and national defense.
Detailed explanation-3: -Capitalism is the economic system in the United States. It is a market economy. Capitalism means that people, not the government, own most businesses. In the U.S., businesses decide what to sell.
Detailed explanation-4: -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-5: -Created by the United States Constitution, the U.S. has a mixed economy, meaning that it combines elements of the command and market economic models. In terms of consumer goods and business services, the United States economy operates as a free market.