4 The government of a developed country subsidises local private businesses, and encourages large foreign companies to locate in the country.Which type of economic system is this?1 pointA free marketB mixedC plannedD subsistence
Question
4 The government of a developed country subsidises local private businesses, and encourages large foreign companies to locate in the country.Which type of economic system is this?1 pointA free marketB mixedC plannedD subsistence
Solution
This type of economic system is B mixed. In a mixed economy, both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies. The government subsidising local private businesses and encouraging large foreign companies to locate in the country is indicative of this type of system.
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