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FRIDAY QUIZ CHALLENGE Test your knowledge of this week's terms Question: This can help an individual or business have a monopoly and give exclusive rights to the holder. Choose the Right Answer: (A) natural rights  (B) summary  (C) common law  (D) patent

TERM OF THE DAY mixed economy An economic system in which both the private enterprise and a degree of statemonopoly (usually in public services, defense, infrastructure, and basic industries) coexist. All modern economies are mixed where the means ofproduction are shared between the private and public sectors. Also called dual economy. Learn more about this term Usage Example The United States is an example of a mixed economy where both the private and public sectors function together and simultaneously.