Chapter 15 - Mixed economic system, Command economic system
Studied by 0 people
Learn
Practice Test
Spaced Repetition
Match
Flashcardsmixed economic system
an economy in which both the private and public sectors play and important role (mix of command and market economy)
subsidy
a payment by a government to encourage the production or consumption of a product
1/4
There's no tags or description
Looks like no tags are added yet.
Name | Mastery | Learn | Test | Matching | Spaced |
|---|
No study sessions yet.
5 Terms
mixed economic system
an economy in which both the private and public sectors play and important role (mix of command and market economy)
subsidy
a payment by a government to encourage the production or consumption of a product
privatisation
the sale of public sector assets to the private sector
nationalisation
moving the ownership and control of an industry from the private sector to the government
command economic system
where a centralized government controls the means of production and determines output levels