Why are mixed economies so prevalent?

Answer 1

Most countries in the world today operate under a mixed economy because in a mixed economy, one person or the government does not own everything. This means that, for example, if you owned a herd of cows, since it is a mixed economy, you own the herd but you would still have to follow the government regulations. In a command economy, the government controls all production and distribution of goods and services. In a traditional economy, the decisions are based on customs, beliefs, or religion, within a strong social community, and in a market economy, businesses and consumers decide what they will produce or purchase. It's better to have all 3 economies combined into a mixed economy, rather than having only a market economy, a traditional economy, or a command economy.

Answer 2

Because a pure capitalist economy is too egoistic, and a pure plan economy is too inefficient.

Because they really really can't do it alone.

For diversity and to not put your eggs in one basket.

Answer 3

Mixed economies make sure that companies are gaining sufficient profits but also make sure that the consumers do not suffer as a consequence

Answer 4

Mixed market is good for the minorities who want to make a living selling their religious beliefs to the consumers.