In a blank economy, certain sectors of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership and government planning. What type of economy is this?

The correct answer is c) command.

This type of economy, often referred to as a command economy, features a blend of government control and market-driven sectors. In a command economy, the government has a significant role in directing economic activity, including the ownership and management of key industries. However, there are also areas where private ownership and free market principles operate freely. This mix allows the state to stabilize the economy and manage resources while still tapping into the efficiencies of the private sector in certain areas.

In contrast, a purely private economy (option b) would have no state ownership, relying solely on market mechanisms. A missed economy (option d) isn’t a recognized economic term, and a purely market economy (option a) would imply minimal government intervention, which contradicts the premise of significant state control mentioned in the question. Hence, the most accurate choice that captures this dual nature of ownership is a command economy.

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