Find out features of mixed economy given below. So let us check out points on various features to know more about mixed economy.
Some points on features of mixed economy are :
- In mixed economy, private as well as public sectors are required to function in a properly coordinated manner.
- The ownership of goods by both governement/state owned and private entities.
- Taxes to the government.
- Business own most of the resources and determines how and what to produce, but the governement regulates some of the industries.
- In mixed economy there are no pure command or market economies.
- Limited role of market mechanism
- Co-existense of a public and private sector
- Economic planning
- Promotion of social welfare
- Profit motive and preservation of a freedom
- Co existense of a socialistic and capitalistic features.