Some advantages include:
- It mixes the benefits of capitalist nature of private companies and socialist nature of the government.
- Looks to balance economic growth of the economy and income
- Mixed economy allows individuals to run their business and make profits but contribute towards society.
Some disadvantages include:
- Goods and services are produced to benefit the society rather then to benefit the economy.
- Favoritism and bureaucratic nature are prevalent in a mixed economy.
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