Question

Describe any three characteristics of mixed economy

Answer 1

Characteristics. 'One maincharacteristic of a mixed economy isthe ownership of goods by both private and government/state-owned entities. ... For the economy to be mixed, thegovernment can control some parts but not all. For example, thegovernment may control health care and/or welfare in some mixed economy countries

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Answer 2

Features or charecterstics of mixed economy-

1)Economic Planing- An important features of the mixed economic system. It is essential to promote economic development inorder to ensure the smooth and systematic operation of the economy,to regulate the entire economy and to have co- ordinated operations of private and public sectors.

2) Price Mechanism- It does not as dominiant as in a capitalistic economy. It allows to function subject to certain regulations through price control,flexation of minimum wages and other measures.

3) Promotion of social welfare- It is very important features of mixed economy. The government makes efforts to promote the welfare of the entire community. It pursues various social schemes to help the poor and backward class.