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Economists describe the U.S. economy as a mixed-market economy because it combines elements of both capitalism and government intervention. In this system, private individuals and businesses make most economic decisions and own resources, while the government regulates certain aspects to promote fairness, protect public welfare, and address market failures. This includes regulations on monopolies, labor laws, and social safety nets. The coexistence of private enterprise and government involvement helps balance efficiency and equity in economic activities.
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Why do economists describe the us economy as a mixed market economy?
Citizens have economic freedoms with some government regulation
Why did economists invent the term stagflation to describe the economic problems in the US in the 1970s?
to describe a situation caused by a weak economy and rising prices
Why did economists invent the term stagflation to describe the economic problems in the US during the 1970s?
to describe a situation caused by a weak economy and rising prices
Why did economists invent the term stagflation to describe the economic problems in the US during the 1970's?
to describe a situation caused by a weak economy and rising prices
Why did economists invent the term stagflation to describe the economic problems in the united States during the 1970s?
to describe a situation caused by a weak economy and rising prices
Why do economists describe the us economy as a mixed market economy?
Citizens have economic freedoms with some government regulation
Why did economists invent the term stagflation to describe the economic problems in the US in the 1970s?
to describe a situation caused by a weak economy and rising prices
Why did the economists invent the term stagflation to describe the economic problems in the US during the 1970?
to describe a situation caused by a weak economy and rising prices
Why did economists invent the term stagflation to describe the economic problem in the US during the 1970s?
to describe a situation caused by a weak economy and rising prices
Why did economists invent the term stagflation to describe the economic problems in the US during the 1970s?
to describe a situation caused by a weak economy and rising prices
Why did economists invent the term stagflation to describe the economic problems in the US during the 1970's?
to describe a situation caused by a weak economy and rising prices
Why did economists invent the term stagflation to describe the economic problems in the United States during the 1970?
to describe a situation caused by a weak economy and rising prices
Why did economists invent the term stagflation to describe the economic problems in the united States during the 1970s?
to describe a situation caused by a weak economy and rising prices
Economists generally assume that?
Economists generally assume that the economy will behave in an understandable way.
What are people who develop ideas that explain how the economy works known as?
Such people are generally known as Economists. There are many varieties of economists, like Neo-Classical, Keynesian, Marxist, Mercantilist, Physiocratic, etc.People who develop ideas that explain how an economy works are called economists.
What are people who developed ideas that explained how the economy known as?
Such people are generally known as Economists. There are many varieties of economists, like Neo-Classical, Keynesian, Marxist, Mercantilist, Physiocratic, etc.People who develop ideas that explain how an economy works are called economists.
Do economists predict future changes in the economy?
yes!
