Ivan works for an automobile factory that exports cars around the world. The government manages the factory, and he lives in housing provided by the city. Ivan most likely lives in a closed economy with limited government regulation. a pure market economy with no government regulation. a command economy with heavy government regulation. a mixed market economy with some government regulation.
Ivan most likely lives in a command economy with heavy government regulation.
Explanation:
The type of economy described in the given narration clearly exhibits the commandant nature of the economy as the government owns both the factory and the place of accommodation used by Ivan.
In such a type of economy, the government keeps to itself the right to make all the administrative decisions regarding the functioning of the manufacturing industries, sales markets, etc.
