Question

In the fictional country of Unozarica, all the airlines, buses and trains are owned by businesses not the government, but the government has oversight on them, especially for safety reasons. No one is guaranteed a job, but citizens are guaranteed income in their old age. This is an example of __________.

Answer 1

Mixed market economy

Step-by-step explanation:

A mixed economy is an economy organized with some free market elements Mixed economies typically maintain private ownership and control of most of the means of production, but often under government regulation. Like in Unozarica all businesses are owned by private corporations but regulated by the government. Mixed economies socialize select industries that are deemed essential or that produce public goods.All known historical and modern economies are examples of mixed economies.

Answer 2

Answer: Mixed market economy

Explanation: Mixed market economy as the name implies combines both element of the free market or market system with that of the command system in investment, production, distribution and control of economic resources. Mixed market economy combines a blend of both private and public enterprise. In a mixed market economy means of production, companies and services are predominantly offered and owned by private enterprise. However, the government issues regulatory and fiscal policies in other to mitigate the control of these private owners in other to avoid wide income margin between the masses and other issues arising from capitalist market.