2. Briefreviewabouteconomy
Let's quickly review what a mixed economy is. It is
a combination of a market economy, or free market
economy, and planned economy. Like the market
economy, a mixed economy gives businesses and
individuals many economic freedoms. Like the
planned economy, the government puts in place
regulations to secure other business and individual
consumer security. If you live in America, you live
experience a mixed economy everyday. One way you
experience it is driving down the road. The
government levees taxes to pay for the road. Then,
the government typically outsources the
construction to a private entity. In that way, the
private sectors and public sectors work hand-in-
hand and benefit each other, as well as the
citizen, every day.
3. WhatisMixedEconomy?
Mixed economy or DUAL ECONOMY is an economy containing
the characteristics of both capitalism and socialism,
that is a combination of private and public ownership
of the means of PRODUCTION, with some measure of
control by the government.
Also referred to as a “Market System With Government
Intervention”. In the implementation of a development
program for a developing country, government
initiatives are often necessary to enable the country
to embark on an economic take-off.
It is a type of economy in which private and public
sector co-exist and try to retain the advantages of
capitalism and socialism while trying to eliminate the
evils of the both systems.
4. Mixedeconomy
The mixed economy works because the two
primary players, the private sector and
public sector, benefit each other. The
private sector’s goal is to make
profit. For every dollar in revenue for
the private sector, there is a tax that
goes directly to some level of
government. The public sector can then
afford to continue providing its
services to the people, which include
but is not limited to, the businesses.
Citizens also pay taxes through either
goods and services from the private
sector or public sector.
5. AdvantagesofMixedEconomy
Producers and consumer have sovereignty to choose what to
consume but production and consumption of harmful goods and
services may be stopped by the government.
As compared to Market economy, a mixed economy may have income
inequality due to the role played by the government.
A mixed economy is between the opposite poles of a free market
economy and a certainly planned as socialist, system. A mixed
system combines capitalist and socialist elements, and sometimes
referred to as a third-party. It offers a variety of benefits
including free enterprise and private ownership, as well as a
social safety and the capacity for government intervention when
needed.
mixed economy is that is allows for competition among
producers and manufacturers with enough government
regulations in place to protect the society. Another
advantage of a mixed economy is right of people and
businesses to produce, sell, and decide on their own prices.
6. Disadvantageofmixedeconomy
The wrong regulation on economic processes
can be a catastrophe to certain features
of production. Another disadvantage is
that merchants and business must locate
markets for their goods and services. They
also have no control over the taxes they
are required to pay. Taxes can also be an
advantage, because they provide revenue
for the government to support its citizens
and infrastructure.
7. Howtheyoperate
How can these the private
sector and public sector realms
operate together? Using the
transportation example, the
government will typically hire
a private company to build
roads and bridges, which are
then utilized by the private
and public sectors.
8. Someexamplesofmixedeconomy
Here are a few more examples of a mixed
economy in action. Economic freedoms consist
of the right to start your own business, hire
employees, fire employees, and sell goods and
services for a profit. The government not only
regulates these activities so that other
businesses and civilians are ensured consumer
safety, but also to try and keep everyone on a
level playing ground, such as equal employment
regulations. The government does not just
regulate these businesses, but also taxes them
in order to provide a plethora of goods and
services proven non-profitable by the private
sector, such as libraries, education,
hospitals, and sanitation.
11. WHAT TO PRODUCE?
This question is solved by public
sector-private sector co-
existence. In this economy,
private sector produces goods
which are profitable while public
sector produces goods with the
main aim of profit.
12. HOW TO PRODUCE?
In mixed economy, goods are
produced by public and private
sectors. Private sector uses
least cost production function
to undertake production. But
public sector may not always
adopt least cost production,
because there aim is social
welfare.
13. HOW MUCH TO PRODUCE?
In every economy , how
much to produce depends
on the supply and
demand of the goods and
services or to the
resources available.
14. FOR WHOM TO PRODUCE?
Value of production is
idential to the income
from production. In a
mixed economy, the income
is distributed among the
factors of production.
15. Privatevs.PublicOwnership
Private business produce most
goods and services, and almost
two-thirds of the nation’s total
economic output goes to
individuals for personal consumer
load is so great,that the nation
is sometimes characterized of
having a consumer economy.
16. Publicownership
public ownership more compatible with
market operation, not to abandon
it, but they cannot agree on what is
the best form of public ownership. The
former maintains that state ownership
is basically sound and only its
operational mechanism needs to be
modified, while the latter proposes to
transform state-owned enterprises into
shareholding companies.
17. Elementsofmixedeconomy To posses means of production(farms,factories,stores,.etc.)
To participate managerial decision(Cooperative and participatory
Economics)
To travel(Needed to transport all the items in the commerce,to
make deals in persons, for workers and owners to go to where
needed)
To Buy(items for personal use, for re-sale;by whole enterprices
to make the organization that create wealth a form of wealth
itself)
To sell (same as buy)
To hire(to create organizations that creat wealth)
To fire(to maintain organizations that create wealth)
To organize(private enterprise for profit,labor unions,workers’
and professional associations,non profit groups,religions,etc.
To communicate(free speech,newspapers,books,advertisements,make
deals,create business partners,create markets)
To protest peacefully(marches,petitions,use the government,make
laws friendly to profit making and workers alike,remove pointless
inefficiencies to maximize wealth creation).
18. BY: GROUP 2
Abarientos, Jane Dianne
Gajero, JanicaKeisha
Veridiano, Kristine Mae
David, Beverly
DelaRosa, Ronalyn
Charlene Salvador
Krystel Mary Sunga
Michelle antonio
Mella, Mariel Grace
