An economy in which both, the private sector and the government are involved is known as a/an ______ economy
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. mixed.
- A mixed economy consists of both private and government/state-owned entities that share control of owning, making, selling, and exchanging good in the country.
- Mixed economy, in economics, a market system of resource allocation, commerce, and trade in which free markets coexist with government intervention.