Mixed Economy
A mixed economy is a combination of both the market economy and the command economy. They achieve this by allowing people to start their own businesses, but they have to go through certain legal processes first and have many taxes that put money back in the economy and back to the government. This allows the government to have some control over businesses as well as having businesses themselves. It also allows a significant amount of freedom for the general public when choosing whether or not to buy something, to start a business or maybe even to supply something to a food chain, clothing chain or even a toy chain. If a government allows this kind of freedom for there people, but having certain laws and codes of practice to keep them in check (make sure they are fair). A mixed economy is commonly adopted in countries across the world because of its attractiveness, its availability, its openness(you can do a lot with it) and its maintenance cost is quite low due to it being mainly run by the people.
A mixed economy is a combination of both the market economy and the command economy. They achieve this by allowing people to start their own businesses, but they have to go through certain legal processes first and have many taxes that put money back in the economy and back to the government. This allows the government to have some control over businesses as well as having businesses themselves. It also allows a significant amount of freedom for the general public when choosing whether or not to buy something, to start a business or maybe even to supply something to a food chain, clothing chain or even a toy chain. If a government allows this kind of freedom for there people, but having certain laws and codes of practice to keep them in check (make sure they are fair). A mixed economy is commonly adopted in countries across the world because of its attractiveness, its availability, its openness(you can do a lot with it) and its maintenance cost is quite low due to it being mainly run by the people.
A good example of a mixed economy in today's society is France. The French economy is a mixed economy because there are many small businesses on the corner of streets, many of which are small restaurants or eat-ins(the french are very particular about their food. That's why there are so many food businesses). This means that a vast majority of businesses in France are family owned. The government would own some businesses that are quite large due to the fact that they are run by the government and the government gains a decent amount of funds from taxes. The fact that there are a few government owned businesses and many personally owned and family owned businesses means that the french economy is a very prosperous and maybe even a little optimistic. Some other examples of mixed economies include; Iceland, Sweden, The United Kingdom, The United States and Russia.