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Transcript of Mixed Economy
This system operates smoothly and efficiently. Companies are allowed to grow. Ownership Rights:
Means of production are mainly under private ownership. (property rights) How the system addresses the 3 Basic Economic questions? Definition:
An economic system that combines both private and public enterprise. The Product Mixed People are free and able to create businesses. However they are subject to some government rules. Effects on Freedom of Citizens Economy Resources Examples of Countries with Mixed Economies:
United States, Canada, Australia, Japan, Germany, United Kingdom, Italy, and many more! Competition Rights A mixed economy provides fair and competitive prices because private enterprises are allowed to compete with each other. However government bodies insure that market prices are regulated. Government Involvement The government competes with the private companies. The government and the private companies can choose what they buy and sell. The government has its own corporations that sell good to the private sector. What: Anything people want to create or things that the government produces
How: Government competes with the private sector
Whom:Goods are produced for the people/consumers