Question

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

Answer 1

Here is the difference among three types of economies:

Explanation:

• A social economy is a political approach and social theory that supports the collective ownership of the businesses and other means of production.
• Market socialism is an economic approach in which means of production and firms are owned and controlled by the government bodies.
•  A mixed economy is a system that combines perspectives of both socialists and capitalists models.  

Learn more about market economy here:

What is market economy

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Answer 2

Socialist economy , Mixed economy and Market economy.

Explanation:

• A Mixed economy is defined as an economic system that is considered to be a mixture of private and government ownership. it is a free economy where a producer can decide what to produce but regulation is regulated by the government.
• Market socialism is an economic approach in which means of production and firms are owned and controlled by the government bodies.
• The social economy is the system where the means of making money is owned by society as a whole which means the profit belongs to everyone in society.

Learn more: Economy system

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