What are features of capitalist socialist and mixed economy?
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* Capitalist economy
(i) there is a private ownership of the means of production.
(ii) means of production are used in manner such that the profits are maximised.
(iii) the role of the government is largely confined to the maintenance of law and order and defence of the country
* Socialist economy
(i) means of production are collectively owned by the society as a whole. or, there is a public ownership of the means of production
(ii) means of production are used in a manner such that social welfare is maximised.
(iii) there is a direct participation of the government in the process of production. the role of the government is not merely confined to law and order and defence.
* Mixed economy
(i) means of production are owned by the private entrepreneurs as well as the government.
(ii) in the private sector, production decision are governed by the principle of profit maximization, while in the public sector, social welfare rule the roost.
(iii) both private and public sector play a significant role in the process of production.
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(i) there is a private ownership of the means of production.
(ii) means of production are used in manner such that the profits are maximised.
(iii) the role of the government is largely confined to the maintenance of law and order and defence of the country
* Socialist economy
(i) means of production are collectively owned by the society as a whole. or, there is a public ownership of the means of production
(ii) means of production are used in a manner such that social welfare is maximised.
(iii) there is a direct participation of the government in the process of production. the role of the government is not merely confined to law and order and defence.
* Mixed economy
(i) means of production are owned by the private entrepreneurs as well as the government.
(ii) in the private sector, production decision are governed by the principle of profit maximization, while in the public sector, social welfare rule the roost.
(iii) both private and public sector play a significant role in the process of production.
plzz mark me as brainlist
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