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What is a mixed economic system? A mixed economic system is a system that combines aspects of both capitalism and socialism. A mixed economic system protects private property and allows a certain level of economic freedom in the use of capital, but also allows governments to intervene in economic activitiesRead More →
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A mixed economy is defined by the coexistence of a public sector and a private sector. The specific mix between public and private, however, can vary considerably from one mixed economy to another. By their respective nature, the private sector is subordinate to the public sector. Private exchange can onlyRead More →
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What is commercialism? Mercantilism was an economic system of commerce that extended from the 16th to the 18th century. Mercantilism is based on the premise that global wealth was static, and as a result, many European countries attempted to accumulate as much of that wealth as possible by maximizing theirRead More →