ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Most consumers want government control of the economy
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Government control makes a market economy more profitable
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Government control of some aspects of the economy has never been successful in the modern world
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Most economies have found that they need a mix of free market and some government control to be successful and protect consumers
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Detailed explanation-1: -Why are most economies in the world today considered mixed economies? Most economies are considered mixed because most have some portion of the means of production under government control. Most economic systems also have some element of the market or capitalism.
Detailed explanation-2: -The mixed economy is an economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies.
Detailed explanation-3: -Economy in which both private sector and public sector works together in order to achieve economic development is called as Mixed economy. It generally based on principle of both capitalism and socialism.
Detailed explanation-4: -It encourages private initiative. There is freedom of choice. It ensures that income is distributed equitably. It ensures economic development. It ensures job security and employment. More items