GOVERNMENT OWNS MAJORITY OF RESOURCES AND CONTROLS THE DISTRIBUTION OF RESOURCES
FREE ENTERPRISE AND CHOICE FOR ENTREPRENEURS AND WORKERS, WHICH MEANS LESS GOVERNMENTAL CONTROL
Government and the Central Planning board decides what gets produced and the quantity that is produced.
People which includes households and businesses determine what is to be produced and sold
WHY CHOOSE MIXED MARKET?
1. Freedom of Enterprise: which means an entrepreneur may choose to come and go from the business industry. Furthermore, allows them to start up a business of their choice and produce a product of their choice.
2. Competition: Other businesses may pursue the same goals or produce the same product to reach their goals.
3. Self-Interest: People may choose to do what would benefit them the most or promote the highest utility. Now comparing that to the command system, people are able to pursue their own dreams and accomplish their goals without being oppressed by the government.
4. Incentive: In command system economies, they lack incentives or rewards for their work. In comparison, the market system economies rewards their workers for their work.