Mixed Economies

Wasima Bhuiyan

INTRODUCTION

A mixed economy can help create improved equality and ensure safety to all citizens as it will prevent the people in its country from suffering from poverty. It even allows people to enjoy financial rewards of hard work or entrepreneurship. Also, private firms established tend to be more efficient than government controlled firms because they have a profit incentive to cut costs and be innovative. In a mixed economy, the government will provide basic public services to all people such as shelter, buses, and communication paths.

FACTS

In a mixed economy, both market forces and government decisions determine which goods and services are produced and how they are distributed. Unlike command economies that put the government primarily in charge, a mixed economy gives the government less regulation and control. In this economic system, entrepreneurs pursue their own businesses and governments may decide the pricing of the specific goods.
Mixed Economy

REFUTATIONS

Many argue the fact that the government institutes excessive regulations and interference within private businesses, however, various restrictions on businesses are for the great good such as environmental, labor, antitrust regulations and intellectual property laws. Also many criticize high-taxes in mixed economies, although the taxes only benefit in leading developed libraries, schools, hospitals, roads, utilities, legal assistance, and social security.

CONCLUSION

A mixed economy is perfect to live since it is combined of a market and a command system; citizens have hand on their private businesses as well as governments have the power to establish certain restrictions to protect all people from poverty.