The advantages and disadvantages of mixed economy?

Answer 1

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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Answer 2

The importance of a mixed economy is that it allows participation in production while making sure that the society is guarded by the government. Mixed economy allows people to make their own decision.

Answer 3

A mixed economy is an economic system which covers the 'best of both worlds'- this means that it covers both the public sector and the private sector.

While the benefits of a private sector include greater satisfaction to consumers, as well as freedom (less regulation) the benefits of a public sector include providing a diverse range of goods and public services which are convenient for the everyday public.

In conclusion, a mixed economy contains benefits of both the private (businesses and firms) and public sector (the government). Of course, this is the most ideal choice as it provides greater benefits to more people.

Answer 4

• Optimal utilisation of a nation's resources.
• A relatively wider tax base.
• Consumers are protected from consumption of harmful products.
• A considerable degree of consumer sovereignty.
• High quality products and services due to competion.
• More equal distribution/allocation of resources.
• Relatively stable prices.

Answer 5

Advantages of mixed economy include that a state provides the essential services, there is consumer choice, competition keeps prices low and private sector encouraged for profits. Disadvantages of mixed economy include less efficient than private sector, heavy taxes reduce incentives to work hard or make profits and there is excessive control over business activity which can discourage enterprise and add costs.

Answer 6

When a mixed economy consists of encouraging free enterprise with various regulations to prevent abuses such as air pollution, the benefits are a healthy economy and clean air. This is only one example of the mixed economy benefits.In terms of technology that has created the US NASA space programs, it's clear that such an undertaking would need to be overseen by the US government. The free market in technology has produced products that have been used by NASA, to plan and execute manned moon landings.

Answer 7

Ha ha you all just wasted your time because I have no idea what the pros and cons are either, I just was hoping someone else knew.