why is Mixed economy a good idea ?
Is Mixed economy a good idea ?
Mixed economy is where a part of an economy left to a free market and the other is run by the government. A mixed economy allows private participation in production while ensuring that society is protected from the full swings in the market.
A mixed economic system allows a level of private economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims
Consumers also have a choice in what they want to buy.To buy items for personal use, for resale; buy whole enterprises to make the organization that creates wealth a form of wealth itself.The advantage of this type of market is that it allows competition between producers with regulations in place to protect society as a whole. With the government being present in the economy it brings a sense of security to sellers and buyers. This security helps maintain a stable economy.
The U.S. consists of both private and government/state-owned entities. Sometimes, the government gets involved to help the economy.Two examples of government assistance in the U.S. are welfare and unemployment benefits.The government also gets involved with minimum wage polices.
So if you dont know where you should live or choose which economy is best well Mixed economy can be the best choice it can really help you out and have a good turn out