751. What is a mixed economy?
A) An economic system that features characteristics of both market and command economies.
B) An economic system where the government owns and controls all resources.
C) An economic system where all decisions are made by the market forces.
D) An economic system characterized by barter and trade.
752. In a mixed economy, who makes decisions about resource allocation?
A) Only the government.
B) Both the government and the private sector.
C) Only the private sector.
D) Only individuals.
753. What is the role of the government in a mixed economy?
A) To control all economic activities.
B) To own all means of production.
C) To regulate and intervene in the economy while allowing for private enterprise.
D) To have no involvement in economic affairs.
754. Why do mixed economies exist?
A) To eliminate all forms of private enterprise.
B) To address the limitations and shortcomings of both market and command economies.
C) To promote income inequality.
D) To encourage monopolies.
755. What is the significance of private property in a mixed economy?
A) All property is owned by the government.
B) Private individuals and businesses have the right to own property and engage in economic activities.
C) Private property is irrelevant in a mixed economy.
D) Private property is solely owned by the wealthy.
756. In a mixed economy, how are prices determined?
A) Prices are set by the government.
B) Prices are determined by the forces of supply and demand in the market.
C) Prices are fixed and unchanging.
D) Prices are irrelevant.
757. What is the primary motive of businesses in a mixed economy?
A) To maximize government control.
B) To eliminate competition.
C) To make profits within a framework of government regulations.
D) To minimize consumer choices.
758. How does a mixed economy address income inequality?
A) By ensuring equal distribution of wealth.
B) By implementing social welfare programs and progressive taxation.
C) By concentrating wealth among a few individuals.
D) By ignoring the issue of income inequality.
759. What is the role of competition in a mixed economy?
A) Competition is discouraged.
B) Competition is encouraged to promote efficiency and innovation.
C) Competition is irrelevant.
D) Competition is only allowed among government-owned enterprises.
760. In a mixed economy, what is the government’s role in providing public goods and services?
A) The government does not provide any public goods or services.
B) The government only provides goods and services to the wealthy.
C) The government plays a significant role in providing public goods and services.
D) The government provides public goods and services through monopolies.
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