Mixed Economy System

Mixed Economy System
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  • Sure!
  • Hey, my teacher haven't teach me about Mixed Economy system and the test is tomorrow. Can you help me?
  • A part of the economy is left to the free market and part of it is managed by the government.
  • So, it's a system that combines any advantage values of liberal and centralized economic systems.
  • Some of the advantages are : It is Incentives to be efficient, limits goverment's interference, reduces market failure,
  • Macroeconomic stability, and also a degree of equality.
  • Sophie and Jessica are from different schools. Today, they met after school. Sophie explains about Mixed Economy System as they walk home.
  • Of course, it has some disadvantages. Some of them are : It brings out the fear of nationalization,
  • It could risk the government to go too far, and it observes lesser use of resources.
  • Sophie explains about the definition of the system as they wait for the bus. 
  • Oh my! It's raining!
  • Let's run to the cafe nearby! I'll continue explaining later.
  • They rode the bus, and Sophie carries on with her explanation. Now, she is explaining about the advantages of Mixed Economy System.
  • Really? Thank you so much!
  • Ok, let me continue. The examples of Mixed Economy Sytem are USA, China, Iceland, Sweeden, France, Russia, and Hong Kong. That's basically it. Goodluck for your test.
  • You're welcome.
  • Sophie continues her explanation as soon as they got off the bus. She is now explaining about the disadvantages of the system.
  • Oh no! It is suddenly raining! They ran to the cafe nearby as fast as they could.
  • In the cafe, they ordered some cake and meal. Sophie then started explaining the last part of the system. After the rain stops, they continue heading straight home.
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