Mixed economic system- It is a great blending of socialism and capitalism. This approach allows for both government interference for social welfare and economic activity freedom. As a result, it combines the two economies. The idea of a mixed economy is relatively new.
Features of Capitalist economic system that can be found in mixed economic sector-
1. Existence of Private Sectors:
The pprivate sectors exist under this structure, all of the consumer goods sectors, agriculture, and small-scale businesses have grown in the private sector.
The government supports the concurrent growth in this industries.
2. Private property is acceptable -Having private property is acceptable in a mixed and capitalist economy. However, it is important to keep in mind that money and income must be distributed equally in this situation. It must be made sure that the wealth and profit do not concentrate in a small number of hands.
3. Profit Motivation and Social Welfare -Profit-driven capitalism and socialist social welfare are both present in a mixed and capitalist economy system.
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