Asked by Briahna Ellis on Jul 21, 2024
Verified
In which system do buyers and sellers freely interact in markets without governmental interference?
A) traditional system
B) mixed economic system
C) pure free-command system
D) pure free-market system
Pure Free-market System
An economic system where transactions are made without government intervention, based solely on the forces of supply and demand.
Mixed Economic System
An economic system that blends aspects of both capitalism and socialism, incorporating both private and government involvement in economic activities.
Traditional System
A social or economic system based on long-standing customs, practices, and traditions, often within specific communities or cultures.
- Identify and differentiate between various economic systems and their characteristics.
Verified Answer
Learning Objectives
- Identify and differentiate between various economic systems and their characteristics.
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