Question

The South African economy can BEST be described as a A) command economy. B) traditional economy. C) pure market economy. D) mixed market economy.

Answer 1

D. Mixed Market Economy.

Answer 2

Answer: D) Mixed market economy.

South Africa, as most countries in the world, has an economy that is best described as a mixed market economy. A mixed economy is one which combines aspects of the command economy characteristic of socialism and of the capitalist market economy.

A mixed economy allows some personal freedom in the use of capital, while at the same time allowing government intervention in order to achieve certain social goals.