Mixed economy
This is an economic system where the productive resources are owned, controlled and allocated by both the government and private individuals. Decision making and planning is done by both the private individuals and the state for example, Uganda.
Features/characteristics of mixed economy
- Ownership of resources is by both the government and the private individuals
- Resource allocation is by both the government and forces of demand and supply
- There is existence of indicative planning
- Production is for both profits and welfare maximization
Co-existence of both the public: and the private sector
CATEGORIES Economics
TAGS Dr. Bbosa Science
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