What is Mixed Economy | Types | Capitalist and Socialist Economy

 Mixed Economy Mixed economy is an economy which combines the element  of both the capitalist and socialist economies. It attempts to combine the best features of both capitalism and socialism while excluding the Demerits of Both.   Two types of Mixed Economy      1. Government does not directly undertake Production activity. This exists in most of the developed countries such as the USA, UK, etc.     2. Where Government not only Regulates the Private Sector, But also Participates in the Production activities.     Features of Mixed Economy Co - existence of Public and Private Sectors. Features of both Capitalism and Socialism. Government regulates and controls the Private Sectors. Price mechanism Profit Motive. Capitalist Economy   In Capitalist  form of economic system the means of Production and Distribution are Privately own,  and Production is guided Largely through Operation of markets.    ...
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Effect of Society on Business

 Effect of Society on Business

Every Business works in a society, so society's different factors like family, educational Institutions and religion affect business. Now these may different from one country to another, from one state to another or from one city to other regions. Parts of the Society are:
  • Families
  • Educational Institutions
  • Religions

 

Professionalization

A Professional is one who possess Systamatic Knowledge and skills to Perform certain responsible functions, with authority and ethics.
 
A Professional has enormous responsibilities since he/she cannot use knowledge, skill and authority unscrupulously.
 

 Business Ethics 

Business ethics refers to a system of moral Principles and rules of conduct applied to business.
 
A business should not conduct itself in a way detrimental to the Intrests of Society.
 
A Profession is bound by certain ethical Principles and rules of conduct , which also are a part  of Professionalization. 
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What is Mixed Economy | Types | Capitalist and Socialist Economy

 Mixed Economy Mixed economy is an economy which combines the element  of both the capitalist and socialist economies. It attempts to combine the best features of both capitalism and socialism while excluding the Demerits of Both.   Two types of Mixed Economy      1. Government does not directly undertake Production activity. This exists in most of the developed countries such as the USA, UK, etc.     2. Where Government not only Regulates the Private Sector, But also Participates in the Production activities.     Features of Mixed Economy Co - existence of Public and Private Sectors. Features of both Capitalism and Socialism. Government regulates and controls the Private Sectors. Price mechanism Profit Motive. Capitalist Economy   In Capitalist  form of economic system the means of Production and Distribution are Privately own,  and Production is guided Largely through Operation of markets.    ...
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