A mixed economy is one in which ________.
A) both resources and means of production are extremely limited and generally confined to agricultural produce
B) the government or other centralized group determines and controls all resources and means of production
C) both individuals and government control resources and determine production methods
D) either individuals or private firms control resources and determine production methods
E) there is no government intervention whatsoever in industry
C) both individuals and government control resources and determine production methods
Explanation: C) A mixed economy is one in which individuals, businesses, and government share responsibility for determining allocation of resources and methods of production. Responses A) refers to a traditional economy; B) to a planned economy; and D) to a market economy.
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