What is a hybrid economy? a system in which people earn wages and buy the goods and services they choose a market that relies on the trading of goods and services without the use of money an economic system that is a combination of both command and market economies an economic system in which the government or another central administration regulates supply and prices

Question

History

Freddy

8 September, 11:29

What is a hybrid economy? a system in which people earn wages and buy the goods and services they choose a market that relies on the trading of goods and services without the use of money an economic system that is a combination of both command and market economies an economic system in which the government or another central administration regulates supply and prices

+5

Answers (1)

Know the Answer?

Toby Peters · Answer 1

A hybrid economy is an economy that is combination of both that is command and market economics

Explanation:

The first option that is provided in a question talks about how the wages are earned and goods are purchased with trading goods and services without any money. This form generally called a barter system. But this system has some disadvantages and that is the people can't buy what they want. Means if one person wants to buy something then the other person should have the consent that he would exchange that. In this, we also don't know the original amount of the item.

The third option talks about how the government plans the economy. This is called a centrally planned economy. In this, the government decides what should be the price of the goods and services by themselves. So we can say that it is a good way to earn money for themselves. So another type of system came which is a combination of above two types of economy. That is called a hybrid system of the economy or a hybrid economy.