WORLD HISTORY

Detailed explanation-1: -A mixed economy is a system that combines elements of both a market economy and a command economy. In a mixed economy, some resources and businesses are privately owned while others are owned by the government, and both free markets and government intervention play a role in economic decision-making.

Detailed explanation-2: -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-3: -Broadly, there are three types of mixed economies: partial state control, total government control, and pubic-private control.

Detailed explanation-4: -Examples include the economies of China, Norway, Singapore, and Vietnam-all of which feature large state-owned enterprise sectors operating alongside large private sectors.

Detailed explanation-5: -Which of the following is a correct statement about a mixed economy? In a mixed economy, most economic decisions are made in markets but the government plays a significant role in the allocation of resources.