6. Capitalism and socialism Check the countries whose economies are best describ

Question

6. Capitalism and socialism Check the countries whose economies are best described as "mixed," combining aspects of both capitalism and socialism. Check all that apply. Italy O Norway ? Spain Canada Luxembourg From the following characteristics, check those commonly associated with a socialist but not a capitalist economy. Check all that apply. More private ownership of resources More centralized decision making More decentralized decision making through markets More public ownership of resources More authoritarian government

Explanation / Answer

Mixed economy means that a certain part of the economy is set free by the government while part of it is managed. Now we know that:-

Therefore, we can say that all the modern economies are mixed economies.

The characteristics associated with the socialist economy are:-

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