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Advantages of Mixed Economy

  • It encourages private initiative.
  • There is freedom of choice.
  • It ensures that income is distributed equitably.
  • It ensures economic development.
  • It ensures job security and employment.
  • Monopoly is prevented because of the joint participation in economic activities by both the private and public sectors.

Disadvantages of Mixed Economy

  • There is more emphasis on profit at the expense of the welfare of the citizens.
  • There is usually high level of corruption and mismanagement.
  • Wealth is not equitably distributed as there is a gap between the rich and the poor.
  • Efficiency hardly occurs in this type of economy because of involvement of the state.
  • Exploitation of labour.

Examples of Mixed Economy

  • Iceland (57%)
  • Sweden (52%)
  • France (52.8%)
  • United Kingdom (47.3%)
  • United States (38.9%)
  • Russia (34.1%)
  • India – (27%)
  • China – (20%)

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