Jon K Redinger
- Iceland, Sweden, France, United Kingdom, United States, Russia, China
- Allows more freedoms than command economies, such as the ability to control production and management
- Have higher levels of state participation and spending
- Restrictions and regulations are made for a whole benefit, such as environmental and labor regulation, and intellectual property laws
- Encourages higher standards of living for the society
- Leans more toward governmental control and influence
- Policies often associated with agendas of political parties and figures
- Taxes and decreased efficiency
- Overbearing government interjection can add costs and discourage interprises
Addresses Economic Questions
- Production is decided by the people and is solved by the co-existence of the public and private sector, both of which attempt to produce services and goods with the goal of profit.
- A mixed economy will have its goods produced by the private and public sectors, however the latter may not be able to employ the most cost effective method, whereas the private sector will strive for it.
- The value of production correlates to the income from the production.Then the income would be distributed amongst the factors of production in a mixed economy