In this economic system, there is a free labor market and individuals can own property, but the basic needs of the people, such as health care, education, elder care, and law enforcement, are met by the government. this economic system is

mixed economic system

Explanation:

Most countries in the world have a mixed economic system, since there is no pure market economy. Governments are able to exist because they tax people and businesses, and they also regulate economic factors (money supply, interest rates, etc.). I'm not sure, but I really doubt that there is a 100% planned economy, maybe some country like North Korea.

How this economic mix or blend works in a country is what makes it similar to a market economy or to a planned economy.

For example, the US is a mixed economy, the government levies a lot of taxes to finance public roads, bridges, utilities, police, army, firefighters, schools, colleges, some hospitals, and millions of public servants. Even with such a big government involvement in the economy, the US economy is considered to be almost free market.

Canada for instance is a little bit more socialist, and less free market, but is still considered almost free market.

Then comes European nations, which are even more socialist than Canada, and Latin American countries.

On the other end of economic systems, probably North Korea has the most planned economic system in the world, then there are countries like Cuba, and some Asian nations that still lean towards planned economies.

China is probably in the middle, it has a lot of capitalistic features and a lot of planned features (specially in politics).  

sound is invisible, but sometimes we can feel it. when a kettle-drum is thumped with a stick that time the tight drum skin moving up and down very quickly for some time and then it pumped sound waves into the air. loudspeakers also work in a similar manner.

components of a speaker:

electromagnet

in order to translate an electrical signal into an audible sound, an electromagnet is used in looudspeakers

  suspension

suspension is used to   center the voice coil in the gap of the magnet and it exerts a restoring force to keep it there. suspension is used to limits the maximum mechanical excursion of the diaphragm and voice coil.

voice coil

voice coil is a coil of wire which is attached to the apex of a loudspeaker cone. it provides the motive force to the cone by the reaction of a magnetic field to the current passing through it.

cone

in a   loudspeaker, a   thin, semi-rigid membrane attached to the voice coil, which moves in a magnetic gap due to which it vibrates   and produced sound. it is known as diaphragm and it can also be called a cone, though not all speaker diaphragms are cone-shaped.

surround

surround is also known as front suspension. surround is used to join the cone to the chassis. together with the suspension it controls the cone excursion, and it is also used to   determine how energy which is   travelling through the cone is absorbed, and how the speaker limits when it reaches the ends of its travel.

dustcap

dustcap is used to protect the voice coil from dust and dirt. it is a part of the cone.

how speaker work

the outer part of the cone is fastened to the outer part of the loudspeaker's circular metal rim. the inner part is fixed to   voice coil that sits just in front of a permanent magnet . when loudspeaker is hooked up to a stereo, electrical signals feed through the speaker cables into the coil. it will convert the coil into an electromagnet magnet . when electricity flows back and forth in the cables, the electromagnet either repels or attract the permanent magnet. this moves the coil back and forth, and it pull and push the loudspeaker cone. like a drum skin vibrating back and forth, the moving cone pumps sounds out into the air.in this way loudspeakers works.