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Which type of economy, as mentioned in the text, do you think is best?

a) Traditional
b) Command
c) Market
d) Mixed

1 Answer

6 votes

Final answer:

Most real-world economies are mixed, combining various aspects of traditional, command, and market systems, with the U.S. leaning towards market orientation but still having some government involvement.

Step-by-step explanation:

The question of which type of economy is best can be subjective and depends on various factors such as cultural values, government philosophy, and the socio-economic goals of a society. However, most economies today are mixed economies, which embody characteristics of traditional, command, and market systems. Mixed economies tend to provide a balance between private enterprise and government intervention. The U.S. economy, for instance, leans more towards a market-oriented system but still includes significant government involvement. The Heritage Foundation and Cato Foundation provide rankings that offer insights into how free or market-oriented different countries are.

User Pankaj Tanwar
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