In: Economics
As the text and materials discuss, the United States has what is called a “mixed” economy. This means that the economy has a market basis, but also has government regulation and involvement in order to soften or prevent some of the disadvantages of a free market. Do you think that this kind of economy works well? What are the positives and negatives of a mixed economy? 150 words
Why do incentive and coordination problems arise in economies that embrace central planning? How are those problems dealt with in a market economy?