The Economic System is a system of production as well as resource allocation that takes place within a society or in an given geographic area. An economical system includes the combination of various institutions, agencies and all the decision making processes which comprise of the economic structures of a given community. The most common economic system in the world is the Market economic system and is also among the most ancient economical systems of the world. In today’s scenario also, Major portions of the world still function under the traditional economic system and the areas that follow the most part of the traditional economy are the rural, Second world countries, third world countries and that is mostly through the farming. In this type of economy, a surplus is found to be very rare.
Every member of the market economy is given a specific role and these roles are tend to be very close-knit as well as socially satisfied.
1. Evaluate and discuss the negative impact of youth risk behavior on yourself and others.
2. Advice South African youth on two preventative measures that can help in combating risky behaviors.
Grade: High School
Keywords: Economy, Traditional Economy, third World, Second World, Technology, Medicine, Close-Knit, Rare, Surplus, Economic System
h i beleive so
Explanation: i think so i apologize if im wrong capitalism = freedom. \
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mixed market economy.
Explanation: edg 2020
The answer is mixed market economy.
The most common economic system in the world is a mixed market economy.
Explanation: A mixed market economy refers to an economic system that possesses the characteristics of socialism and capitalism. It is a market where free markets coexist with government involvement. In a mixed market economy, goods and services are distributed to where they are most needed and it rewards the most efficient producers with the highest profit. A mixed market economy also meet customer needs more cheaply and efficiently.
A mixed economic system.
Among the options given on the question the correct answer is option B.
Every statement given on the question is true except that the black market appears in every nation.
Explanation: Among the options the 1st statement is that no nation has a pure market economy.This is true because there is no existent of pure market economy. A pure market economy means that there will no control of the business by the government. But every nation has some regulatory activities in the business.
The 3rd statement is also true. The communist ruled nation's has total command economy. In this system the government holds the power to decide about anything of the market. There are hardly any power to the private sector.
The 4th statement is about mixed market economy. The mixed market economy is consist of both the pure market and command economy. This economic system is the most common system of the world.
But the 2nd statement is not true.Because the no nation allows the black market in their economy and it is a punishable crime. So the statement about black market is false.
The most common economic system in the world is a economy, because the features of this market structure which includes the feature of both capitalism and socialism.
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I believe its a mixed market economy.
The answer is: market economy.
Market economy refers to an economic system in which production, distribution, and investment is dictated by the forces of supply and demand (in which the two are correlated, so that, in an ideal sense, the greater the demand, the less the supply, and vice versa, but always aiming at balance). In principle, a market economy would allow for productive forces (more or less regulated by government), through competition, to balance themselves so that capital can be distributed amongst these forces.