in what ways do you benefit from living in a country with a mixed economic system that leans more toward a market economy?

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16-05-2022
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in what ways do you benefit from living in a country with a mixed economic system that leans more toward a market economy?

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marvineetesh3 marvineetesh3 · Answer 1 · 2022-05-19T10:50:10+02:00

The benefit of a mixed economy examine efficient production and allotment of resources, as well as betterment of social benefit or welfare.

What is a market economy?

A market economy is defined as an economic system where the supply and demand forces determine how any commodities are produced.

These economies are not ruled by a central authority and instead rely on voluntary exchange.

These markets coexist with authorities participation, and private business firm coexist with public undertakings in an amalgamated economic system.

Therefore, the advantages of a mixed economy include more efficient production and resource allocation, as well as improved social benefit.

Learn more about the Market economy, refer to:

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