What distinguishes a mixed economic system from other economic systems?

Government ownership of all resources

Complete reliance on market forces

Combination of market and planned economies

Absence of any government intervention

Why might a government intervene in a mixed economic system?

To eliminate all market inefficiencies

To address market failures and promote equity

To privatize all industries for efficiency

To discourage technological advancements

How does a mixed economic system generate revenue for the government?

Through donations from private businesses

Solely through income taxes on individuals

Via various means including taxation and privatization

By selling goods in international markets

What role does government intervention play in supporting industries?

It discourages competition among industries

It regulates all aspects of industrial production

It supports key sectors to enhance competitiveness

It eliminates all private businesses

How does progressive taxation aid low-income households in a mixed economic system?

By reducing taxes for the wealthy

By redistributing income to alleviate poverty

By encouraging higher consumer spending

By promoting technological advancements

What is a primary objective of government intervention in a mixed economic system?

To eliminate all private businesses

To promote competition among industries

To encourage technological stagnation

How does a mixed economic system promote equity among socio-economic groups?

By eliminating all forms of taxation

By encouraging monopolies in industries

Through income redistribution measures

By limiting government involvement

What distinguishes the economic direction of a nation in a mixed economic system?

Minimal government intervention

Complete reliance on market forces

Absence of any economic policies

Why do most countries worldwide operate as mixed economic systems?

To eliminate all private ownership

To promote technological monopolies

To combine benefits of market and planned economies

To discourage international trade

Mixed Economic System Free MCQ Practice Test with Solutions

	Economics for GCSE/IGCSE 71 videos\|82 docs\|39 tests

	Economics for GCSE/IGCSE 71 videos\|82 docs\|39 tests

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