ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Canada has a universal healthcare system, providing government-funded medical services to all citizens. However, the vibrant private sector helps to push an economy that is one of the world’s most successful. Intense and frequent trade with the United States provides the country with great wealth.These facts provide evidence that Canada has a
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mixed economy
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market economy
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traditional economy
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command economy
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Explanation:
Detailed explanation-1: -Households’ health insurance premiums would be eliminated, and their out-of-pocket (OOP) health care costs would decline. Administrative expenses in the health care sector would decline, freeing up productive resources for other sectors and ultimately increasing economywide productivity.
Detailed explanation-2: -Canada’s market-oriented economic system closely resembles that of the United States.
Detailed explanation-3: -Increases in capital goods, labor force, technology, and human capital can all contribute to economic growth. Economic growth is commonly measured in terms of the increase in aggregated market value of additional goods and services produced, using estimates such as GDP.
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