ECONOMICS
TECHNOLOGY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
based on the principles of the traditional economy, but allowing some government intervention.
|
|
|
based on the principles of the centrally planned economy, but limiting government intervention.
|
|
|
based on the principles of the free market, allowing no government intervention.
|
|
|
based on the principles of the free market, but allowing some government intervention.
|
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: -The United States is considered the world’s premier free-market economy. Its economic output is greater than that of any other country that has a free market. 1 The U.S. free market depends on capitalism to thrive. The law of supply and demand sets prices and distributes goods and services.
Detailed explanation-3: -The United States is said to have a mixed economy because privately owned businesses and government both play important roles. Indeed, some of the most enduring debates of American economic history focus on the relative roles of the public and private sectors.
Detailed explanation-4: -The U.S. economy is essentially a free market economy-an economic market that is run by supply and demand-with some government regulation.
Detailed explanation-5: -(I 1 freedom of choice; (2) private property rights; (3) profit motive of owners; and (4) owner control.