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In the economy of nation a, laws of economics such as supply and demand completely control the economy with no interference from the government. this is an example of a...

A. mixed economy
B. market economy
C. planned economy
D. socialist economy

User Muggles
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2 Answers

4 votes
the answer is B. market economy
User Otra
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Answer:

This is an example of market economy (B)

Step-by-step explanation:

The market economy can only exist in nations were the economy is not regulated by the government at all.Only supply and demand control the economy.

In planned economy or on mixed economy nations, the government interfere on the laws of economics.

In case of a socialist government, the nation regulates absolutely everything regarding the laws of economics.

Examples of mixed economy are most nations in Latin America, such as Argentina, Colombia, Peru, etc.

Examples of planned economy are Cuba and North Corea, while China evolved from a socialist planned economy to a mixed economy nowadays.

User Nishant Ghodke
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