Question

Even though there are several different kinds of economies, there are more mixed economies— economic systems where tradition, government, and markets each

A) Dominate a specific sector
B) Function independently
C) Play a role in economic decision-making
D) Collaborate with international markets

Answer 1

Most economies in the real world are mixed, combining elements of command, market, and traditional systems. In mixed economies, tradition, government, and markets each play a role in economic decision-making.

Step-by-step explanation:

Most economies in the real world are mixed. They combine elements of command and market (and even traditional) systems. The U.S. economy is positioned toward the market-oriented end of the spectrum. Many countries in Europe and Latin America, while primarily market-oriented, have a greater degree of government involvement in their economies. In mixed economies, tradition, government, and markets each play a role in economic decision-making, making them a combination of different economic systems.