market systems part 3 Flashcards
1
Q
Some government involvement through mandatory laws and regulations that businesses follow
- Formulates labor laws, sets minimum wage
The government provides social programs for those who need help
- Medicare, welfare
A
Mixed economies
2
Q
main goal of socialism
A
keep prices low, provide employment
3
Q
Increased government involvement in people’s lives and the economy
Key industries are owned and operated by the government
More social services for all and free or low cost medical care
A
Socialism
4
Q
countries with mixed economies
A
France
UK
5
Q
2 criticisms of mixed economies
A
unproductive workers]
must raise taxes
