![]() ![]() When private companies are able to produce higher revenues, they eventually create more jobs to support the new level of business. By combining these attributes, the best aspects of both can be obtained. They can implement specific policies that encourage specific consumer behaviors. ![]() They can implement subsidies to help certain industry. ![]() The government, however, can purchase on a massive scale. Small businesses have limited purchasing power. It minimizes government influence without eliminating it.Ī mixed economy attempts to balance the need for private innovation with the need for the massive supports a government provides. Here are the biggest pros and cons of a mixed economy to think about and discuss. The United States, the United Kingdom, France, Sweden, and even China all incorporate elements of a mixed economy. Many of the governments in the developed world today use this type of economy. It also allows the government to interfere with economic activities to achieve specific social goals. In the typical mixed economy, there are systems in place that preserve the right to own private property. That means there are characteristics of both capitalism and socialism found throughout the socioeconomic system. A mixed economy is an economic system which combines elements of private enterprise with elements of public enterprise.
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