The most common economic system in the world is a

Posted By Admin @ September 03, 2022


The most common economic system in the world is a closed economy. command economy. mixed market economy. traditional economy.


 The most common economic system in the world is a mixed market economy

What is a Mixed Market Economy?

    A mixed market  economy is that in which a market system where resource allocation, commerce, and trade in  free markets coexist with government intervention.


     This involves  a combination of free market principles of private contracting ( that is the private sector taking charge of the elements of production) and socialist principles( that is the government intervention in the market)


     The United States in a good example of  of a mixed market economy in the sense that the elements of production are firmly in the hands of the private sector while the government intervenes by providing support such as subsidies etc

Learn more about a mixed market economy at

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