Explained mixed Economy?
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Heya User!!
Mixed economy share the merit of market economy as well as Central plant economy . Decision regarding what,how and for whom to produce had taken both to maximize to profit as well as social welfare .In certain areas of production producer are free to take their decision with a view to maximizing profit .
In a mixed economic decision relating to what, how and for whom to produce are neither left entirely to the market forces not to any Central authority .
Mixed economy share the merit of market economy as well as Central plant economy . Decision regarding what,how and for whom to produce had taken both to maximize to profit as well as social welfare .In certain areas of production producer are free to take their decision with a view to maximizing profit .
In a mixed economic decision relating to what, how and for whom to produce are neither left entirely to the market forces not to any Central authority .
shraddha33204:
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☛ A mixed economy is variously defined as an economic system blending elements of market economies with elements of planned economies, free markets with state interventionism, or private enterprise with public enterprise
☛ . There is no single definition of a mixed economy, but rather two major definitions
☛ . There is no single definition of a mixed economy, but rather two major definitions
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