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Thursday, October 7, 2021

in a mixed market economy, property owned by an individual?

 in a mixed market economy, property owned by an individual?


Question:

In a mixed market economy, property owned by an individual:

  • a. can be used by all citizens.
  • b. can help promote personal wealth.
  • c. can be run by a city or state.
  • d. can be used by government workers.

Answer:

The correct answer is b. can help promote personal wealth


Explanation:

In this type of economy, the government and private individuals mutually participate in an economy. When any private individual possesses the ownership rights over any property, then the property rights of that property are only exposed to that individual. Due to ownership of private property, the personal wealth of that private individual only gets promoted.


What Is a Mixed Economic System?

A mixed economic system is a system that combines aspects of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims.

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