PRC-3 · Chapter 1 · Question 57 of 61
In a specific nation, consumer goods are produced by private profit-seeking firms driven by supply and demand, while the government maintains strict ownership and control over national railways and postal services. What is this economic framework?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) Mixed Economy
Explanation
A mixed economy combines elements of a free market (private enterprise) with state intervention and ownership in certain strategic sectors.
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