A Mixed Economic System Is Best Described an Economy with a Mix

question 179

Multiple Choice

A mixed economic system is best described an economy with a mix of

• A) state and federal governments.
• B) domestic and foreign buyers.
• C) free markets and government control.
• D) for-profit organizations and not-for-profit organizations.

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Definitions:

Innovators

Individuals who adopt new ideas or technologies before most others in a society or industry.

Diffusion of Innovation

The method through which an innovative concept, item, or practice disperses across a community or societal structure.

Laggards

In the context of diffusion of innovation, laggards are the last group of people to adopt new technology or ideas, often resistant to change and preferring traditional methods.

Risk Barrier

A hurdle or challenge that must be overcome to achieve a goal, often related to uncertainty or potential losses in business or investment.