What is Mixed Economy, Advantages & Disadvantages of Mixed Economy

Wed, 12/21/2011 - 09:27 -- Umar Farooq

Definition of Mixed Economy

Mixed Economy is an economic system which combines in itself the features of capitalism and that of the Socialism.

Meaning of Mixed Economy

Unlike a pure capitalistic economy, Mixed Economy has an important public sector, i.e. a number of industries which are owned and managed by the state. The State is not the all pervasive owner of all means of production. Private enterprise is allowed and even encouraged to operate a large number of industries and to own the various means of production. Thus in this economic system the public and private sectors exist side by side. It supports reduction in the inequality of incomes and seeks to achieve it through the fiscal machinery. It acts as a welfare state and undertakes a large number of functions and promotes the welfare of the common man.

In Pakistan we have mixed economy. The public utility concerns like Post and Telegraph, Electricity etc. are managed by State. There is also semi-public sector which includes all the concerns, which are jointly owned and managed by the private individuals and the State. Industrial, trading and commercial enterprises are also owned and managed by the individuals and they collectively constitute the private sector. Also Read:  4 Types of Economc System    Research Methodology

Advantages and Disadvantages of Mixed Economy

Merits & Advantages of Mixed Economy


Related pages


definition of scarcity in economicssole meaning in hindiswot analysis for iphonehistory of barter systemoperating system is system softwareecological factors affecting business environmentdefine perpetual successionscarcity means in hindidefine matriarchal societywhat are the advantages of federalismdisadvantages of organizational chartmeaning of shortcomings in hindiethnocentricity definitionincome and expenditure account proformakinds of propaganda techniquesdefine barteringmixed economy of welfarefundamental rights under constitution of pakistan 1973deviance examplescontractual vertical marketing systemcognitive development theory jean piagetfolkways definition sociologydefine macro environment in marketingrole play method of teaching pptdefine insentmanagerial conceptual skillsdisadvantages of capitalist economic systemsociology questionnairesreal nominal personal accounts rulespolyandry tibetcarl rogers theory of self conceptsocratic teaching method definitionadvantages of vertical organizational structuresocial institutions are what of the socialization processswot analysis apple companyfreud stages of development chartindifference curve analysis pdfwhat does deflation mean in economicspiaget theory stagescaste characteristicsdefinition of unstructured interviewmonetary policy meaning in urduphotojournalism captionsforeign trade advantages and disadvantagescooley theoryhow to write a hypothesis for sociologywilliam bridges booksethnocentrism is the belief thatgenital stage definitionexamples of descriptive researchprc constitutionpsychological barriers of communicationkurt lewins modeldivided sovereignty definitionwhat are the characteristics of a capitalist economybranched programmingpiaget schema definitionexamples of moresindian cabinet of ministerswhat is a nonprobability samplethe advantages of communismwhat does endogamy meaneconomics according to adam smithills definitionhuman beings are social creatures5 characteristics of capitalismwhat is mainframe computer definition7s of mckinseysocialism positives and negativescastes meaningindustrialized meaningwhat is departmentation in managementdelegating authoritywhat are the advantages of federalismlaw of diminishing marginal