Answer: The answer is mixed market economy.
The most common economic system in the world is a mixed market economy.
Explanation: A mixed market economy refers to an economic system that possesses the characteristics of socialism and capitalism. It is a market where free markets coexist with government involvement. In a mixed market economy, goods and services are distributed to where they are most needed and it rewards the most efficient producers with the highest profit. A mixed market economy also meet customer needs more cheaply and efficiently.
The most common economic system in the world is a mixed market economy
A mixed market economy is that in which a market system where resource allocation, commerce, and trade in free markets coexist with government intervention.
This involves a combination of free market principles of private contracting ( that is the private sector taking charge of the elements of production) and socialist principles( that is the government intervention in the market)
The United States in a good example of of a mixed market economy in the sense that the elements of production are firmly in the hands of the private sector while the government intervenes by providing support such as subsidies etc
Learn more about a mixed market economy at https://brainly.com/question/11972056
