Difference between Capitalistic and Mixed economy
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Answer:
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property and the recognition of property rights, voluntary exchange and wage labor.
A mixed economy is an economy organized with some free market elements and some socialistic elements, which lies on a continuum somewhere between pure capitalism and pure socialism. ... Mixed economies socialize select industries that are deemed essential or that produce public goods.
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Answer:
Pure capitalism is a free, private economic system that allows voluntary and competing private individuals to plan, produce, and trade without government interference. A mixed economic system is an economy that allows private property ownership, but there is some government involvement.