An economy in which both the government and the market decide what, how and for whom to produce is a

mixed economyCorrect answerYour answermarket economyCorrect answerYour answercentrally planned economyCorrect answerYour answerclosed economyCorrect answerYour answer

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CorrectNot quiteAnswer A

Correct answer: A

A mixed economy combines the market's price mechanism with the government's planning and regulation.
India has a mixed economy.

Worth noting

A closed economy is one that does not trade with other countries, a different idea.

Concept: Mixed economy
Typical timeTypical: 40 s
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The rule this testsEconomic systems; positive and normative

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An economy in which both the government and the market decide what, how and for whom to produce is a

Explanation