Question

What is difference between socialist economy , mixed economy and market economy..??

Answer 1

Answer:

in socialist economy the government is all in all in production distribution and consumption process.

In Market economy the government just take big decisions but the private sector runs the entire economy .

while in mixed economy both the government and private sector take independent part in the economic process.

Answer 2

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In market socialism, prices are determined by the government and the goal is to achieve market equilibrium while, in a mixed economy, prices are determined by the market's shifts – although the government can intervene to “protect” citizens and prevent economic inequalities.