The economic system in which the basic economic questions are answered through markets with some government intervention is a:
A) command economy.
B) mixed economy.
C) market economy.
D) planned economy.

Question

Quizplus · Accepted Answer

In a mixed economy, both market forces and government intervention play a role in answering the basic economic questions. While markets determine prices and production, the government can regulate certain industries, provide public goods and services, and redistribute wealth through taxation and social programs. This is in contrast to a pure market economy where there is no government intervention, or a command economy where government has total control over the economy.

The Economic System in Which the Basic Economic Questions Are