Question

6. Explain which economic system (market, planned, mixed, or traditional) you think is best for consumers. Describe at least one reason why you think this system is best for consumers. (4-7 sentences)

Answer 1

Step-by-step explanation:

Mixed economic system would be the best for the consumers due to the following reasons:

The supply and demand of the products are measured based on the prices and not the regulations of the country. There is efficiency in production and consumers will have more choices and there will not be monopolies to fix the pricing. The employees will also get more protection in this type of economy. In capitalist there is very high level of competition but in mixed economy healthy competition can be maintained among the private sector.