Explain how a mixed economy differs from both a planned and a free market enterprise economy and provide at least two relevant examples/activities that take place in each to illustrate the differences.
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- Explain how a mixed economy differs from both a planned and a free market enterprise economy and provide at least two relevant examples/activities that take place in each to illustrate the differences.
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- Explain how a mixed economy differs from both a planned and a free market enterprise economy and identify what activities take place in each to illustrate the differences.To demonstrate how a mixed economy differs from both a planned economy and a free-market enterprise economy, give at least two pertinent examples or activities.What are the main characteristics of a mixed economy?
- Explain your understanding of a Mixed Economy. Give some examples to support your view.Discuss the basic principles of a Mixed economy. Describe what a Market Economy and Planned Economy are, how they function, and its relationship between consumers and a countries government. What are some of the strengths and weaknesses of a Mixed economy?What are the characteristics of the mixed economy in an economy????
- How is a traditional economy similar to and different from a mixed economy?Which element of a command economy is also used in a mixed economyWhat can be found in a mixed economy but not in a market economy? A a national economic development plan B an unequal distribution of income and wealth C the operation of the price mechanism D the private ownership of factors of production
- Explain the characteristics of mixed economy???Below shows the schematic diagram of the circular flow of income. The functioning of the free-market economic system is represented with firms and households and interaction back and forth (Ventures, 2012). Evaluate the diagram of the circular flow model below and answer the questions which follow. Questions 1) Part 1) What does the circular flow model describes? Part 2) Relate the role of each factor markets for factor of production. Part 3) Assess the flows of products, resources, and money payments in the circular flow model above.Which of the following concepts best describe ‘social capital’? (a) Skills and qualifications. (b) Affluence and earning potential. (c) Moral values and trust in others. (d) Health and age.