Socialism
Mixed Economy
Economic System...
that blends reliance on market forces with some government involvement in the marketplace
Advantages:
- both the governments and individual citizens contribute
- individuals can make their own decisions
- government has limited control
- provides benefits such as: enterprise/business ownership, social welfare, profit earnings
Individual Contribution
- labor
- taxes
Government Contribution
- combines land, labor, and money to provide and distribute public goods and services
•such as: parks, schools, etc
- employment and payments