Jeylin Jaimes Mixed market Prezi (Bibiliography (http://www…
What is Mixed Market economy?
A mixed market economy is a command and market economy mixed together into one economy.
Government directs economic activity towards certain socially important areas of the economy and the balance is subject to the operation of the price mechanism.
examples of a mixed market economy
United Kingdom 47.3%
United States 38.9
China – 20% of GDP
Hong Kong 18.6%
you can sell almost anything as long as it isn't anything that the government has to stop or get involved.
In mixed economy, freedom of enterprise and profit motive are the important features. Further there is competition between public and private sectors. These factors increase efficiency, initiative, innovation and productivity.
Rights of Individual
Under mixed economy, individual rights are protected. People have freedom to buy any commodity.
Complete Economic Freedom
There is complete economic freedom in mixed economy
the consumer is free to buy any commodity they like
in a mixed economy, private businesses can decide how to run their businesses (e.g. what to produce, at what price, who to employ, etc.)
the only thing that you might be able to afford to open as a business is the thing that you might have to shut down because it is dangerous to other people.
the government get involved when the product is something that can harm anyone
how does a mixed market economy operate?
A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims.
In a mixed economy both market forces and government decisions determine which goods and services are produced and how they are distributed
economy is run by the consumers' purchasing choices
characteristics of a mixed economy
Under mixed economy, private firms and individuals have right to own and use property.
Under mixed economy, there is full freedom of choice of occupation, although consumer does not get complete liberty but at the same time government can regulate prices in public interest through public distribution system.
the consumer plays a larger role than the national and state government.
One main characteristic of a mixed economy is the ownership of goods by both private and government/state-owned entities. Monopolies have the potential to occur in this type of economy, but the government closely monitors this. For the economy to be mixed, the government can control some parts but not all. For example, the government may control health care and/or welfare in some mixed economy countries.'