Answer:
A mixed economy also minimizes the disadvantages of a market economy. 4 A market economy could neglect areas like defense, technology, and aerospace. A larger governmental role allows fast mobilization to these priority areas. The expanded government role also makes sure less competitive members receive care.
Explanation:
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The drawbacks of a market economy are also reduced in a mixed economy. A market economy might overlook industries like aircraft, technology, and defence. A bigger role for the government enables quick mobilization to these priority regions. Additionally, the greater government role ensures the care of less competitive members.
Mixed economy is the economy where is capitalism and socialism is combines to for an economy. In a mixed economy, private property is protected and certain economic freedom in the use of capital is permitted, but government intervention in the economy to further social goals is also permitted.
In a mixed economy, state- and privately-owned businesses work together to control the ownership, production, exchange, and distribution of goods across the country. France and the United States both have diversified economies. A varied economy monitors the influence of monopolies.
Thus, The drawbacks of a market economy are also reduced in a mixed economy.
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