A
mixed economic system combines elements of the capitalism and socialism. Many
economic decisions are made in the market by individuals. But the government
also plays a role in the allocation and distribution of resources.
ex-USA, Bangladesh
Features of mixed economy
(1)Co-existence of public and private property: In mixed economic system there will exist both as privately owned & publicly owned property.
(2)Price systems & government directives: In mixed economic system the price level of everything is decided by the government.
(3)Government regulates and controls the private sector: The government controls the private sector by instructing them and by making them follow the instructed rules.
(4)Consumers sovereignty is protected: In mixed economic system the freedom of consumers is guaranteed.
(5)Government protects labor interest: In mixed economic system the labor rights are protected as by determining the wage level and restricting the rules of lay-off & retrenchment.
ex-USA, Bangladesh
Features of mixed economy
(1)Co-existence of public and private property: In mixed economic system there will exist both as privately owned & publicly owned property.
(2)Price systems & government directives: In mixed economic system the price level of everything is decided by the government.
(3)Government regulates and controls the private sector: The government controls the private sector by instructing them and by making them follow the instructed rules.
(4)Consumers sovereignty is protected: In mixed economic system the freedom of consumers is guaranteed.
(5)Government protects labor interest: In mixed economic system the labor rights are protected as by determining the wage level and restricting the rules of lay-off & retrenchment.
