Which of the fllowing is a correct shatement about a miked econcomy? A. In a mied economk all economic decisions are made in markels. 8. In a miked econcmy mot eccocome checicions are made in markels but the government plays a significant role in the allocation of rescurces C. ma mixed economy the government makes all economic decikions, D. In a mied economy, mot economic decisions are made by the govermment but markels plays a significant role in the allocation of rescurces
Real Tutor Solution
Answer
Solution
Reviewed and approved by the UpStudy tutoring team
Beyond the Answer
In a mixed economy, the magic truly happens as it cleverly combines both market forces and government intervention! While private individuals and businesses make most economic decisions through supply and demand, the government steps in to regulate, ensure fairness, and provide public goods. Think of it as a dynamic duo working together for the greater good of the economy! A fun fact about mixed economies: they are the most common type of economic systems around the world! This approach allows countries to enjoy the benefits of free markets while still addressing inequalities and market failures. So, whether it’s the US, France, or India, most nations have found their sweet spot in this balanced framework!