Explain the Type of Economic System That Exists in Canada

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The Answer is Canada's economy is considered a mixed economy since it uses more than one economic system. While most industries are the work of private enterprise, the Canadian government may be considered partly socialist in its control of certain industries such as Canada Post, utilities (for example, water), and some public lands. In Canada, for example, the provincial governments control and regulate the health care system. Similarly, the Ontario government owns and operates the Liquor Control Board of Ontario (LCBO), which controls the sale of certain types of alcohol. Today, most economies are considered mixed systems since governments usually play some role in managing the economy.

Explain the Type of Economic System That Exists in Canada

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