What is the difference between a free market economy and a mixed economy?
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businesses and individuals make most economic decisions, like what to produce and how much to charge. It's like a marketplace where supply and demand rule. On the other hand, in a mixed economy, the government and individuals both play a role. Some things, like defense or education, are handled by tRead more
businesses and individuals make most economic decisions, like what to produce and how much to charge. It’s like a marketplace where supply and demand rule.
On the other hand, in a mixed economy, the government and individuals both play a role. Some things, like defense or education, are handled by the government, while businesses operate freely in other areas. It’s a bit like having a mix of private and public ingredients in the economic recipe.
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