Mixed economies

1. An introduction on economy system in general

The work people do in order to earn their living is called their economic activity . its make up
the economic system. The economic system is the sum total of what people do and what
they want. The work which people undertake either provides what they need or provides
them money. It is means in economic system there will be various system that organized the
economic activity of people. The economic system include of a town, a city, a country or the
world. All economic systems are not same. The economic system of th united states is very
different from th economic systems of the union of soviet socialist republics. The american
system based on private enterprise . the russian system is based on the principles of Karl
Marx. Whereas the american is capitalistic , the russian system is communistic. Capitalism
based on the idea of individual citizens owning property and privately conducting their own
business. Communism however is based on the idea of property belonging to the state and
all businesses being public rather than private. Its show the economic system of the
countries is different.
2. Mixed economies in particular
No state today is completely communistic ; no state is completely capitalistic. In The country
there will be several economic system because the differenciation of rules of that country.
The various national economc systems tend toward communism or capitalism and many are
difficult to classify the eonomic system. It has been found necessary in any countries to
control or regulate national economic condition. The example is the under developed
countries of the world are inevitably intersted in control and longterm plans guided by the
government. India makes a clear distiction between the public sector and the private sector
of its economy. Systems of this type are sometimes called mixed econimies. Its mean mixed
economy is the existence of several type economies system in a country. Mixed economy
conduct by Britain too. In public sector of british economic life are the natianlized industries
like coal and steel, british rail and BOAC (british overseas airways corporation ). In the
private sector are the majority of the nations industries both large and small, from iants like
ICI (imperial chemical industries) and BP (British petrolium) to small family business.mixed
economy makes the goverment difficulty in planning body to guide national economic
policies. Its not possible to plan ahead with any certain even in a rigidly controled economy.