Mixed economies is the right answer. A mixed economy is an economy that joins parts of both free enterprise and communism. A blended financial framework ensures private property and permits a dimension of monetary opportunity in the utilization of capital, yet additionally takes into consideration governments to meddle in financial exercises so as to accomplish social points.
The mixed economy is differently characterized as a financial framework mixing components of market economies with components of arranged financial matters, free markets with state interventionism, or private undertaking with the open venture.
Answer:
There are two types of economies- Market and Command. The method of price determination and division of labour differ in both economies. The capitalist economy is unplanned and it isn't controlled by any central authority. England Japan and US are market economies.
While in command economies the government owns and controls most of the businesses., the government officials also control the production. North Korea and China are all command economies.
In the 21st century, most economies are mixed economies as they combine the features of both command and market economies.
