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Canada’s economic framework exemplifies a mixed system where market freedom and government regulation coexist. This setup facilitates a dynamic private sector, encouraging competition and innovation in fields like automotive manufacturing and petroleum production. Concurrently, the government’s role involves crafting policies that ensure industry fairness, consumer protection, and environmental preservation. This blend underscores Canada’s approach to balancing economic growth with societal welfare.
Considering Canada’s economic structure as described in the passage, which feature distinguishes its mixed economy from a purely market or command economy?
- A) The economy’s heavy reliance on traditional norms and practices for decision-making.
- B) The exclusive control by the government over all economic activities.
- C) The strategic balance between private sector freedom and government regulation.
- D) The absence of any government intervention in business operations.
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