PRC-3 · Chapter 1 · Question 23 of 61
A country relies heavily on free market forces to determine the prices of consumer goods, but the government retains strict ownership and control over national railways, healthcare, and electricity. How would you classify this country's economic system?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Mixed Economy
Explanation
A mixed economy features a blend of private enterprise operating through market mechanisms and significant government intervention or state ownership in strategic sectors.
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