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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The main elements of a society that directly influence the business in certain region

 The main elements of a society that directly   influence the business in certain region are :

  • Family
  • Education
  • Religion
  • Professionalism
  • Ethical Principles and rules of conduct - Business ethics refers to the system of moral principles and rules of conduct applied to the business.
  • Business and Culture : Culture is the software of mind - the social programming that runs the way we think , act and perceive ourselves and others.
          It implies that culture is a learned behavior and hence can be changed.


   The elements of culture

  •  Language
  • Ideals
  • Values
  • Religion and Beliefs
  • Social collectives
  • status and roles
  • Cultural integration
  • Preferences

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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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