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
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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