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What is Mixed economy ? Advantages and Disadvantages of Mixed Economy

Mixed economy consists of both government owned or state owned entities and private companies, they both have the control or power of selling, making, owining and exchanging goods in the country. Mixed economy system  consist of both free market and command economic practice.

Some points on Advantages of mixed economy are :

  1. In mixed economy system, state provides the essential services required.
  2. Private sectors are encouraged for profit.
  3. Competition keeps the price low in mixed economy.
  4. Goods of consumer choice because of competiton.
  5. Inefficient business behavior is controlled in mixed economy.
  6. Higher chances from the government to implement good polices to controll economy.
  7. Mixed economy allows individual to run their business and make profits.
  8. Less inequality of income is found  because the policy of govenment is to have a balanced economy growth of an economy.
  9. The socialist nature of government and the capitalist nature of private companies help to grow mixed economy.

Some points on Disadvantages of mixed economy are :

  1. Mixed economy can be less efficient than the private sector
  2. Due to excessive control over business activity, it can discourage enterprise and can add costs.
  3. Reduced incentives to work hard or make profits due to heavy taxes.
  4. Challenges of finding balance between both of them.
  5. Limited corporate size.
  6. Under mixed economy wastage of various types of resources in observed.
  7. Mixed economy suffers from continuous backwardness
  8. Optimum use of resources is not controlled in mixed economy

Market economy : Advantages and disadvantages
Planned economy : Advantages and disadvantages
Traditional economy : Advantages and disadvantages

 

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What is Market economy ? Advantages and Disadvantages of Market Economy

Check out Advantages and disadvantages of market economy (capitalism) given below. So let us find out some points on advantages and disadvantages to know more about market economy. This type of economy is nearly free fro governement interference, Economy is based on private ownership where individual control the production, distribution and sales of goods and services.

What is Planned economy ? Advantages and Disadvantages of Planned Economy

Find out Advantages and disadvantages of planned economy (command economy) listed below. So let us check out points on advantages and disadvantages to know more about planned economy. This type of economy system is controlled by governement. In Planned economy, government decides how much is produces, what to produced, the methods of the production and the price of goods or services.

What is traditional economy ? Advantages and Disadvantages of Traditional Economy

Find some Advantages and Disadvantages of traditional economy. So let us check out information on advantages and disadvantages to know more about traditional economy.  In this type of economic system every person has a specific role in the society that is defined by its customs and traditions, traditional economy is based on simple industry and agriculture.

Advantages and Disadvantages of International Trade

Check out Advantages and Disadvantages of International Trade discussed below. So let us find out some information on advantages and disadvantages to know more about International Trade. It is a trade between nations in the form of imports as well as exports. International trade can be considered one of the important souce of revenue in the developing countries. Trade between countries is the exchage of both services and goods among the countries of the world economy.

Advantages and disadvantages of Advertisement in Points

Check out Advantages and Disadvantages of Advertisement in Points which are discussed below. So let us find out some points on advantages and disadvantages to know about advertisement.

Advantags of Advertisement in points are :

Advertisemet can be used to build brand Loyalty.

Advertisement creates ground for personal selling.

Advertisement helps to communicate information to the people.

It also helps to educate people.

Advertisement creates image for the products of services in the market.

It helps to build goodwill.