Question

The nation of Platinia provides its citizens with free healthcare and education services. The government of Platinia funds these programs through high taxation. In addition to these services, the government also runs utilities, telecommunications, and several other enterprises. The nation of Platinia exemplifies a _____.

A) Socialist economy
B) Capitalist economy
C) Mixed economy
D) Command economy

Answer 1

The nation of Platinia exemplifies a mixed economy, which combines elements of both a market economy and a command economy.

Step-by-step explanation:

The nation of Platinia exemplifies a Mixed economy.

A mixed economy is an economic system that combines elements of both a market economy and a command economy. In a mixed economy, the government plays a significant role in the economy by owning certain industries, providing public services, and implementing regulations, while also allowing private individuals and businesses to operate and make economic decisions.

Platinia's government funding of healthcare and education services, as well as its operation of utilities and telecommunications, indicates government involvement in the economy. However, the existence of private enterprises suggests the existence of a market-driven aspect as well.