Question

In 4-5 Sentences, explain what we talked about mixed economies today. Your response should include these vocabulary words (command, market, traditional, mixed economies, economic continuum)

Answer 1

Answer:

The government has control over a command or planned economy. In mixed economies, the government has some control, while the rest is up to supply and demand. Command economies are characterized by large surpluses and shortages, monopolies, and prices set by the government.