Chapter3SupplyandDemand.pptVIP

Features of Mixed Economy Mix of market and command economies. Some economic sectors are privately owned and left to free market mechanism. Some economic sectors are state owned and planned by government. How do you define socialist market economy? The allocation of resources is basically determined by the market forces (ie. the price is determined by the mechanism of supply and demand) under the governmental macro regulation and control. 社会主义市场经济是同社会主义基本制度结合在一起的，市场在国家宏观调控下对资源配置起基础性作用。 Background and terminology Forms of Monopoly Cartel (see p. 33 in the textbook) From French, meaning agreeme