Question

In most mixed economies, the government does not _____.

A) own all the property and confiscate all economic output

B) redistribute wealth through taxes and other means

C) purchase land, labor, and capital from households in the factor market

D) purchase goods and services in the product market

Answer 1

A.) own all the property and confiscate all economic output

Answer 2

Answer: A) own all the property and confiscate all economic output

In most mixed economies, the government does not own all the property and confiscate all economic output.

Explanation:

Mixed economies are known to be economies where private and public (government) control and direct the economic output of the economy. Furthermore, It is an economy characterized by ownership of properties by the private and government and market prices are determined by the laws of demand and supply. Thus, it has the features of both socialism and capitalism.