Understanding Mixed Economies

Which of the following economic systems is NOT mentioned as important to understand before learning about mixed economies?

• Traditional economy

• Command economy

• Feudal economy

• Market economy

In a mixed economy, who is responsible for answering the basic economic questions?

• Both the government and consumers

• The government, consumers, and businesses

• Only the consumers

• Only the government

What is one of the main goals of a mixed economy?

• To eliminate all government intervention

• To ensure a large divide between rich and poor

• To focus solely on consumer preferences

• To provide support for individuals to succeed

Which of the following is a potential disadvantage of a mixed economy?

• Absence of business competition

• No consumer choice in the market

• Stifling of innovation due to restrictions

• Complete lack of government regulation

What economic system does the United States currently use?

• Command economy

• Mixed economy

• True socialism

• True capitalism