Some advantages include:
Some disadvantages include:
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The importance of a mixed economy is that it allows participation in production while making sure that the society is guarded by the government. Mixed economy allows people to make their own decision.
A mixed economy is an economic system which covers the 'best of both worlds'- this means that it covers both the public sector and the private sector.
While the benefits of a private sector include greater satisfaction to consumers, as well as freedom (less regulation) the benefits of a public sector include providing a diverse range of goods and public services which are convenient for the everyday public.
In conclusion, a mixed economy contains benefits of both the private (businesses and firms) and public sector (the government). Of course, this is the most ideal choice as it provides greater benefits to more people.
Advantages of mixed economy include that a state provides the essential services, there is consumer choice, competition keeps prices low and private sector encouraged for profits. Disadvantages of mixed economy include less efficient than private sector, heavy taxes reduce incentives to work hard or make profits and there is excessive control over business activity which can discourage enterprise and add costs.
When a mixed economy consists of encouraging free enterprise with various regulations to prevent abuses such as air pollution, the benefits are a healthy economy and clean air. This is only one example of the mixed economy benefits.In terms of technology that has created the US NASA space programs, it's clear that such an undertaking would need to be overseen by the US government. The free market in technology has produced products that have been used by NASA, to plan and execute manned moon landings.
Ha ha you all just wasted your time because I have no idea what the pros and cons are either, I just was hoping someone else knew.
advantages and disadvantages of market economy
Mixed economies come with some disadvantages that include it being hard to know how much government should control. Government borrowing is a disadvantage along with merchants having tax rates that are too high.
Almost all modern economies can be considered "mixed economies" in some sense, even that of the United States. Any economics textbook, or class, should be able to provide further information on the concept of a mixed economy, and the advantages and disadvantages of same.
really don't understand
Advantages: Competition > profit > innovation. Disadvantages: higher costs for consumers there are losers risk for an entrepreneur
A mixed economy is a system that combines characteristics of market, command, and traditional economies. It benefits from the advantages of all three while also experiencing some of the disadvantages.
advantages and disadvantages of market economy
Mixed economies come with some disadvantages that include it being hard to know how much government should control. Government borrowing is a disadvantage along with merchants having tax rates that are too high.
Almost all modern economies can be considered "mixed economies" in some sense, even that of the United States. Any economics textbook, or class, should be able to provide further information on the concept of a mixed economy, and the advantages and disadvantages of same.
The disadvantages of the mixed economy in Nigeria is that some unscrupulous businessmen are evading taxes. They import some goods which pose a danger to the locally produced goods.
really don't understand
Advantages: Competition > profit > innovation. Disadvantages: higher costs for consumers there are losers risk for an entrepreneur
Some of the advantages and disadvantages of modern fishing to the economy and environment are that people are able to catch their food for no price and its way more natural ,but some of the disadvantages are the fee's that are required to fish are high.
The market economy has many advantages, but it also has its share of disadvantages. Two of the main disadvantages are that this type of economy can be very unstable and it tends to cause a large gap in the distribution of income.
Please give disadvantages concerning csme in the Caribbean economy. natural disasters markets are small
Advantages: Good pay (Sorry im tired and im trying to help people so I can't think) Disadvantages: If prices go down, the economy is basically ruined
advantages and disadvantages of increasing population