A mixed-market economy is best defined as an economy:

• A. in which there is no government intervention in economic activities
• B. where all resources are owned and allocated by the government
• C. in which both private enterprise and government play significant roles in the allocation of resources
• D. that relies exclusively on market forces to determine prices and resource allocation

Answer: (C)

Verified step by step guidance

1. Step 1: Understand the concept of a mixed-market economy. It is an economic system where both the private sector (individuals and businesses) and the government participate in economic decision-making and resource allocation.
2. Step 2: Recognize that in a mixed-market economy, the government intervenes to some extent to regulate or support the market, but private enterprise still operates freely in many areas.
3. Step 3: Contrast this with other economic systems: a purely free-market economy relies exclusively on market forces without government intervention, while a command economy has all resources owned and allocated by the government.
4. Step 4: Identify that the correct definition of a mixed-market economy is one where both private enterprise and government play significant roles in the allocation of resources.
5. Step 5: Therefore, the best definition among the options is the one stating that a mixed-market economy is an economy in which both private enterprise and government play significant roles in the allocation of resources.