A mixed economy has strong elements of both __________ and __________ economies.

• A. market; command
• B. subsistence; traditional
• C. traditional; market
• D. command; barter

Answer: (A)

Verified step by step guidance

1. Understand the definitions of different types of economies: a market economy is one where economic decisions are made by individuals and firms based on supply and demand, while a command economy is one where the government makes most economic decisions.
2. Recognize that a mixed economy combines features of both market and command economies, meaning it has elements of private enterprise and government control.
3. Eliminate options that do not fit this combination: subsistence and traditional economies are more primitive or culturally based, and barter is a system of exchange, not an economy type.
4. Identify that the correct pair describing a mixed economy is 'market' and 'command' because these two represent the main contrasting economic systems that are blended in a mixed economy.
5. Conclude that the blanks in the sentence should be filled with 'market' and 'command' to accurately describe a mixed economy.