Write the characteristics of the mixed economic system.
OR,
Describe the characteristics of mixed economic use.
OR,
Describe the nature of the mixed economic system.
The presence of the public and private sectors are recognized: both implement their action plans according to their needs and capabilities.
Ownership of Assets: State of Assets in Mixed Economy Along with ownership, private ownership is also recognized.
Individual freedom: Freedom of person, freedom of thought, etc. fundamental rights exist in a mixed economy.
Automated Pricing: Market Demand and Supply Here the product price is determined by the price. However, the government can regulate the price system in case of a state emergency.
The cotton system is an asset in a mixed economy Private ownership is recognized, therefore, the cotton system in society cannot be socialized. Equitable distribution of national income Arrangements will not be confirmed.
Presence of Inflation: Inflation also exists in a mixed economy.
Consumer Sovereignty: In a mixed economy consumer choice is given a lot of importance. However, the government can control the production and price of any product for national needs.
Profit: Since private ownership, and private enterprise is recognized in a mixed economy, earning profit is also recognized in this system, which is not the case in socialism.
Economic Planning Government formulates National Development Plan in this system. However, most of the private entrepreneurship development programs are at odds with the government's national plans. Bangladesh, India, Sri Lanka, Norway, and many other socialist countries of the world also have a mixed financial system.
Finally, it can be said that a capitalist economy is an economy in which individual rights are established over the means of production. In this case, private ownership is maintained, producers and traders produce and buy and sell goods according to their own wishes for profit.