Mixed Economies
A ______ economy combines private enterprise with government involvement.
What is a Mixed Economy
What is a market economy?
A Market economy is where the production of goods and services are mostly derived by individual citizens or private ownerships.
Is a market economy similar to a jungle or zoo?
What is the zoo
How does a mixed economy combine features of market and command economies?
Combines free market choices with government control.
What are the main characteristics of a market economy?
Private Property, Voluntary exchange, etc.
The US is a ___ economy while Canada is a ___ economy.
The US is a market economy while Canada is a mixed economy.
In what ways does government intervention in a mixed economy both support and hinder economic growth?
Supports Growth, Risks regulation.
How do supply and demand influence prices in a market economy?
If there is low demand and high supply then it would be sold for less. If it is high demand and low supply then it can be charged for more
In addition to a mixed and market economy, what is the third type of economy?
What is a planned economy
What roles do the government and private sector play in a mixed economy?
Private gives produce. Government regulates the distribution of the produce.
What are the advantages and disadvantages of a market economy?
Advantages: Efficient, more innovative.
Disadvantages: Inequality within finance, underprovided public goods.
What is crown corporation?
A Crown corporation is a company owned by Canada’s government to provide products and services to Canadians.
How does a mixed economy ensure economic stability and growth?
A mixed economy balances freedom and fairness by allowing markets to grow while ensuring the government can step in when needed to protect the public, provide essential services, and keep the economy stable.
In a market economy, individuals and businesses make most of the economic decisions.
What is capitalism or free enterprise?
What is socilaism?
An economic system where the government owns and operates key industries to ensure equal access to basic needs and reduce inequality.