Features of mixed economy, Managerial Economics

Features of this system

The mixed economy includes elements of both market and planned economies.  The government operates and controls the public sector, which typically consists of a range of public services such as health and education, as well as some local government services.  The private sector is largely governed by the force of mechanism and "market forces", although in practice it is also controlled by various regulations and laws.

Some services may be subsidised, provided at a loss but kept for the benefit of society in general(many national railways, for example, are loss making), other services such as education or the police may be provided free of charge (though they are paid for through the taxation system).

The private sector is regulated, i.e. influenced by the price mechanism but also subject to some further government control, such as through pollution, safety and employment regulation.

Posted Date: 11/27/2012 4:36:53 AM | Location : United States







Related Discussions:- Features of mixed economy, Assignment Help, Ask Question on Features of mixed economy, Get Answer, Expert's Help, Features of mixed economy Discussions

Write discussion on Features of mixed economy
Your posts are moderated
Related Questions
Importance of Income Elasticity If a country is experiencing economic growth, the income of the people will increase.  However, for those engaged in the production of goods wi

An Economy consists of two regions, the North & the South. The short-run elasticity of labor demand in every region is -0.5. Labor supply is perfectly inelastic within both regions

d/f b/w MRTS and MRS

What is Cyert and March's behavior theory? What are the demerits.

Quality and Quantity Controls: Demand forecasting is a necessary and valuable instrument in the control of management of an organisation to provide finished goods of correct quant

Q. Describe about Theory of Firm? Theory of the firm is associated to comprehending how firms come into being, what are their objectives, how they act and enhance their perform

Arguments against protectionism   Most of the arguments for protectionism may be met with counter arguments, but underlying the economic arguments as opposed to the social, mo

BALANCE OF PAYMENTS The Balance of Payments of a country is a record of all financial transactions between residents of that country and residents of foreign countries.  (Resi


Q. Illustrate about Pecuniary economies? Pecuniary economies (which is monetary economies) are those economies accrued by the firm from paying lower prices for the factors used