Mixed Economies
Disadvantages:
Advantages:
Examples
1 answer:
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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