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Considering your needs and wants, explain five advantages of the mixed economic system.?
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- What are the main characteristics of a mixed economy?In the US, we have a mixed economy. You can find several examples of a market capitalist economy, a command economy, and a traditional economy. Think about this as it applies to your life. Come up with an example of each and share them with your classmates.What value does entrepreneurship provide for our economic well-being?
- Per Adam Smith, what three principles are required for a Lassiez-Faire economic policy to be effective? Would Adam Smith be in favor of the government managing electricity services? Define mixed economic system. Karl Marx predicted that a capitalist economy would have what consequences?What are the types of economic systems? How will you differentiate Command from a Market economy?What factors caused American business to develop into mixed economic system rather than any other type of economic system?
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