Advantages of Mixed economy in current times
Advantages of mixed economy is one of the important topics that many of our viewers are constantly asking to provide more good information and we are in the process of giving the right information.
The economic structure of a nation is a very important factor in the progress of the country. While in some countries, the economic structure is completely controlled by the government; the private organizations or the market force is the deciding factor in the economy of some countries. However, in mixed economy, both the government and the private sector jointly control the economic structure. There are numerous advantages of a mixed economy.
- Provides fair competition: The presence of private enterprise ensures that there is fair competition in the market, and the quality of products and services are not compromised.
- Market prices are well regulated: The government with its regulatory bodies ensure that the market price do not go beyond its actual price.
- Optimum utilization of national resources: In a mixed economy, the resources are utilized efficiently as both government and private enterprises are utilizing them.
- People are given more power: The general people have more say when it comes to the quality and the prices of products and services.
- It does not allow monopoly at all: Barring a few sectors, a mixed economy does not allow any monopoly as both government and private enterprises enter every sector for business.
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