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Unformatted text preview: 6. The Mixed Economy as an economic ideal is supported by the ______________________ as a compromise between classic som and free-market capitalism. Social Democrats 7. In a free market economy, the ___________________ defines what is produced, in what quantity, and at what price. The invisible hand of supply-and-demand market forces 8. The role of government in a free market economy has generally been to encourage competition among producers. True. 9. In a free market economy, if the price of everyday use wrist-watches goes up significantly consumers will. Generally tend to purchase less of them 10. In a Command economy ______ has the final authority to take decisions regarding production, utilization of the finished industrial products and the allocation of the revenues earned from their distribution. Government....
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- Fall '07