Practicing Success
Most countries in the world follow which of the following economic system today? |
Capitalism Socialism Mixed Economy Communism |
Mixed Economy |
Most economies are mixed economies, i.e. the government and the market together answer the three questions of what to produce, how to produce and how to distribute what is produced. In a mixed economy, the market will provide whatever goods and services it can produce well, and the government will provide essential goods and services which the market fails to do. |