What's the difference between market economy and mixed economy

Question

Social Studies

Blake

12 July, 04:55

What's the difference between market economy and mixed economy

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Answers (2)

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Kristian Davenport · Answer 1

The difference between market economy and mixed economy are discussed below.

Explanation:

Free Market Economy

Under the Market economy, consumers have freedom of choice. Under the Market, economy workers are encouraged to work hard and they have to pay low taxes.

Mixed Economy

Under Mixed economy public and private ownership of resources. Under Mixed economy price Machnism economic plans. Under Mixed economy Government control of monopolies.

Mercedes · Answer 2

A mixed economy is where decisions are made by combination of consumer, business, and government

where as market economy is based on private ownership, free trade, and competition. it is where producers are free to decide what they want to produce, and consumers are free to buy whatever they need and want.