Question

Mixed Economies Disadvantages: Advantages: Examples

Answer 1

Answer:

Advantages of Mixed Economy

• It encourages private initiative.
• There is freedom of choice.
• It ensures that income is distributed equitably.
• It ensures economic development.
• It ensures job security and employment.
• Monopoly is prevented because of the joint participation in economic activities by both the private and public sectors.

Disadvantages of Mixed Economy

• There is more emphasis on profit at the expense of the welfare of the citizens.
• There is usually high level of corruption and mismanagement.
• Wealth is not equitably distributed as there is a gap between the rich and the poor.
• Efficiency hardly occurs in this type of economy because of involvement of the state.
• Exploitation of labour.

Examples of Mixed Economy

• Iceland (57%)
• Sweden (52%)
• France (52.8%)
• United Kingdom (47.3%)
• United States (38.9%)
• Russia (34.1%)
• India – (27%)
• China – (20%)

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