ECONOMICS
PRODUCTIVITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It is still a command economy if the government controls any part of it.
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It is still called a market economy if it has any free markets
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It is most probably called a mixed economy.
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There is no such thing, because all economies are completely one or the other.
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Detailed explanation-1: -A mixed economic and monetary framework has highlighted both an unregulated economy and a command framework since it is moderately constrained by the public authority and partly in view of the powers of the law of demand and supply.
Detailed explanation-2: -A mixed economic system has features of both a command and a free-market system. because it is partly controlled by the government and partly based on the forces of supply and demand.
Detailed explanation-3: -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-4: -A mixed economic system synthesizes the elements of a market economy and the elements of a command economy. In a mixed economic system, free markets co-exist with government intervention, and private enterprises co-exist with public enterprises.
Detailed explanation-5: -A mixed economic system is a system that combines aspects of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims.