Foreign Educator Teaching System

Tag: mixed economy

  • Mixed Economy

    Mixed Economy Mixed Economy tends to eliminate the drawbacks of Market and Planned Economy and combines the benefits of both. Buyers and sellers are given the liberty to produce the goods which they deem to believe as useful, but on the other hand government also keeps a close eye on economic activity and makes sure…

  • Disadvantages of Market economy

    Disadvantages of market system The profitable goods and services are produced, people do not get the products they need (education, health). Mistreatment of workers Creates unemployment Huge gap between rich and poor Big firms control the whole market