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Economy may be classified as:
Capitalist
Socialist
Mixed
All of these
- An economy can indeed be classified in several ways.
- Capitalist: An economy where private individuals own and control property and businesses, aiming for profit.
- Socialist: An economy where the government owns and controls production resources, aiming to distribute wealth more equally.
- Mixed: A blend of capitalism and socialism, featuring both private enterprise and government regulation.
- Due to varied structures, economies may fall under any one or combination of these categories.
Correct Answer: Option: 4, All of these
By: santosh ProfileResourcesReport error
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