Mixed Economy
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Intro
The benefit of this economy is that it has a variety of options for consumers and other countries and can keep a economy running.
The Facts
Mostly its the consumers and the government who control the economy.
mixed economy
A combination of command and market economies provides goods and services so that all people will benefit.
ex. Russia is changing from a command to a market economy.
market and mixed economic systems advantages and disadvantages
Market Economy
Production of goods and services is determined by the demand from consumers.
ex. A free enterprise economy or capitalism.
Command Economy
Production of goods and services is determined by a central government, which usually owns the means of production, like factories.
ex. China, the old soviet union and Cuba are examples of command economies.
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