What steps must countries take to…

History Questions

What steps must countries take to transition to a mixed-market economy? Check all that apply: 1) Establish state-owned businesses, 2) Decrease private ownership, 3) Establish a fair labor market, 4) Discourage foreign investment, 5) Open up trade to other countries.

Answer

To transition to a mixed-market economy, countries need to take specific steps: they must create a fair labor market and promote trade with other nations. A mixed economy combines aspects of both market and planned economies, integrating public and private enterprises. Therefore, establishing a fair labor market is essential for ensuring beneficial working conditions. Additionally, fostering open trade with international partners is crucial, which involves allowing unrestricted exports and imports to enhance economic growth.

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