Question by  Kira (20)

What is a "mixed economy"?

Are we in one now?


Answer by  tamarawilhite (17883)

A capitalist economy has no government intervention ownership of supply and demand. A command economy has the government owning the means of production and directing orders. A socialist economy has the government owning some means of production and managing it. General Motors is jokingly called Government Motors because the federal government is a major stakeholder. This makes us mixed.


Answer by  waskasoo (471)

Although "mixed economy" may be a casual reference to the level of economic activity, it usually refers to the composition, i.e. not too dependent on any one sector.

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