Question

mixed economic systems directions circle the letter of the answer that correctly completes each sentence. 1. a __ economic system is a blend of economic systems. a traditional b communist c market d mixed 2. in the world today, economies are either or mixed. a communist b capitalist c traditional d command 3. when it comes to the economy, americans believe in . a socialism b free markets c communism d closed markets 4. the u.s. government plays a role in the economy by . a passing laws that prevent cheating b telling producers what to make c acting like the ancestors in a traditional economy d keeping out of all business decisions 5. even though it has a mixed economy, china leans more toward a economy. a traditional b command c market d democratic 6. both the united states and china have economies. a mixed b market c traditional d socialist 7. in economic systems, government leaders give answers to the three economic questions. a command b traditional c mixed d market 8. in a __ economy, people and businesses control the economy. a traditional b command c socialist d market

Explanation:

1. A mixed - economic system is defined as a blend of different economic systems.
2. In the modern world, economies are mainly capitalist or mixed. Capitalist economies have a large private - sector role, while mixed economies combine elements of the private and public sectors.
3. Americans generally believe in free markets, which are a key feature of capitalist economies.
4. The U.S. government plays a role in the economy by passing laws to prevent unfair practices like cheating.
5. China's mixed economy leans more towards a market economy, with a significant role of market forces in resource allocation.
6. Both the United States and China have mixed economies, combining elements of market and government intervention.
7. In a command economic system, government leaders make decisions about what to produce, how to produce, and for whom to produce.
8. In a market economy, people and businesses make decisions about production and consumption based on supply and demand.

Answer:

1. D. mixed
2. B. capitalist
3. B. free markets
4. A. passing laws that prevent cheating
5. C. market
6. A. mixed
7. A. command
8. D. market