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Cambridge IGCSE Economics practice

Paper 2 structured question: Mixed economic system

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Mixed economic system

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Paper 2Structured Questions1 marks

Understanding economic systems is crucial for analyzing how resources are allocated in different countries.

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Mixed Economic System

A mixed economic system incorporates both private and public sectors, aiming to balance efficiency with social welfare.

  1. a

    State the two main components of a mixed economic system.

    Aim for approximately 1 distinct marking point.

    [1]

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Paper 2 structured question: Mixed economic system

Paper 2Structured Questions4 marks

Description

Characteristics of Mixed Economies

Mixed economies combine elements of capitalism and socialism, allowing for both market-driven and government-directed economic activities.

  1. a

    Explain the advantages of a mixed economic system.

    Aim for approximately 4 distinct marking points.

    [4]