a. main idea: even though there are several different kinds of economies, there are more mixed economies…

a. main idea: even though there are several different kinds of economies, there are more mixed economies— economic systems where tradition, government, and markets each answer some of the what, how, and for whom questions—than any other kind. pg 48 - 50\n1. what factors can lead to the development of mixed economies? what led to the development of u.s. government economic programs in the 1920s and 1930s?\n2. who owns most of the resources in a market or capitalistic economy? in a socialist or command economy? what determines ownership in a traditional economy?\n3. are most economies purely capitalistic, purely command, purely traditional, or mixed? of the economies that are mixed, what is the most dominant type of mixed economy?

a. main idea: even though there are several different kinds of economies, there are more mixed economies— economic systems where tradition, government, and markets each answer some of the what, how, and for whom questions—than any other kind. pg 48 - 50\n1. what factors can lead to the development of mixed economies? what led to the development of u.s. government economic programs in the 1920s and 1930s?\n2. who owns most of the resources in a market or capitalistic economy? in a socialist or command economy? what determines ownership in a traditional economy?\n3. are most economies purely capitalistic, purely command, purely traditional, or mixed? of the economies that are mixed, what is the most dominant type of mixed economy?

Answer

Brief Explanations:

  1. Factors for mixed - economies: A desire to balance the efficiency of markets with the equity and stability provided by government intervention, historical events like the Great Depression leading to new government economic policies. For U.S. in 1920s - 1930s, the stock - market crash and subsequent Great Depression led to a call for government intervention to stabilize the economy and protect citizens.
  2. Resource ownership: In a market or capitalistic economy, private individuals and businesses own most resources. In a socialist or command economy, the state or government owns most resources. In a traditional economy, ownership is often determined by customs, inheritance within families or tribes, and traditional rights.
  3. Economy types: Most economies are mixed. Among mixed economies, the type that combines a large - scale private sector with a significant but not dominant government role in areas like social welfare, regulation, and infrastructure is quite common.

Answer:

  1. Factors for mixed - economies include the need for efficiency - equity balance and historical events like the Great Depression. For U.S. in 1920s - 1930s, the Great Depression was a key factor.
  2. In a market/capitalistic economy, private entities own most resources; in a socialist/command economy, the state does; in a traditional economy, customs and inheritance determine ownership.
  3. Most economies are mixed. A common type of mixed economy has a large private sector with some government intervention.