mcguinn mixed economy

mcguinn mixed economy - in government-owned firms....

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Brian McGuinn 908871358 Mixed Economies A mixed economy is one in which a countries economic resources are equally split between private and government ownership. Ownership by the government is usually in areas that are of public interest to be protected such as those important for national security and those that provide long-term stability for the economy. Examples include manufacturing plants necessary for military equipment, oil and gas production, and in France the electric utilities. Advantages usually seen in this type of economy include better welfare systems for the unemployed, nation-wide heath care, and job security
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: in government-owned firms. Disadvantages include higher levels of unemployment, slower economic development, less innovation, rising costs, defective products, and higher levels of waste. This is because the people with secure jobs in government businesses have less incentive to advance productivity, quality, or waste management in production. The slow economic growth has caused many countries with mixed economies to switch over to a market-based system or at least privatize portions of the government owned economic resources to become more competitive and increase efficiency....
View Full Document

This note was uploaded on 04/14/2008 for the course IBUS 330 taught by Professor Nicholson during the Fall '07 term at S.F. State.

Page1 / 2

mcguinn mixed economy - in government-owned firms....

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online