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WAEC Economics 2004 Question 6

Question 6

Economic Systems

Mixed economy refers to a system in which the means of production are controlled by

  1. A.private enterprise and the government
  2. B.private individuals
  3. C.the government only
  4. D.the workers and businessmen
Show the answer and explanation

Answer: A (private enterprise and the government)

Explanation

In a mixed economy, both the private sector and the government own and control productive resources.