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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