Which of the following is a characteristic of a mixed economy? (2020)
Practice Questions
Q1
Which of the following is a characteristic of a mixed economy? (2020)
Complete government control
Complete private ownership
Coexistence of private and public sectors
No regulation of markets
Questions & Step-by-Step Solutions
Which of the following is a characteristic of a mixed economy? (2020)
Step 1: Understand what a mixed economy is. It is an economic system that combines elements of both capitalism (private ownership) and socialism (government ownership).
Step 2: Identify the two main sectors in a mixed economy: the private sector (businesses owned by individuals) and the public sector (government-owned services and industries).
Step 3: Recognize that in a mixed economy, both sectors work together. The private sector operates freely, while the government intervenes to regulate and provide certain services.
Step 4: Conclude that a characteristic of a mixed economy is the balance between free market activities and government intervention.
