Economics (9-1) - 0987 CIE

Mixed Economic System

Gbogbo ọrọ náà

Almost every country today runs a mixed economy: markets do most of the allocating, but the government steps in to fix what markets get wrong. How far it should step in is one of the great debates in economics.

In this lesson you will weigh the advantages and disadvantages of the mixed system and study the main tools a government uses to intervene: maximum and minimum prices, indirect taxes, subsidies, regulation, privatisation, nationalisation, direct provision and quotas. By the end you will be able to judge when intervention helps and when it harms.

Ebumnobi

  1. advantages of the mixed economic system
  2. disadvantages of the mixed economic system
  3. definitions, drawing and interpretation of diagrams, advantages and disadvantages of: - maximum and minimum prices in product markets - indirect taxation - subsidies
  4. definitions, advantages and disadvantages of: - regulation - privatisation - nationalisation - direct provision of goods and services - quotas, e.g. for the extraction of natural resources

Nkuzi Olu

Gee ntị na nkuzi a na ngwa

Maapụ uche

E seela isiokwu a ka ị hụ otu echiche si ejikọta.

Mepee maapụ uche na ngwa

Kaadị ncheta

Omume ncheta ngwa ngwa n'ihe a na-anwale n'isiokwu a.

Mee omume kaadị ndị a na ngwa

Akwụkwọ Ọmụmụ

Pure free markets can be efficient but they fail in important ways: they under-provide some goods, over-provide others, and ignore the poor. Pure command economies avoid some of those failures but tend to be slow and wasteful. The mixed economy tries to take the best of both, which is exactly why it is the system used almost everywhere, and why examiners ask you to evaluate government intervention so often.

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Nnyocha Ọmụmụ

Ekele diri gi maka imecha ihe karịrị na Mixed Economic System. Ugbu a na ị na-enyochakwa isi echiche na echiche ndị dị mkpa, ọ bụ oge iji nwalee ihe ị ma. Ngwa a na-enye ụdị ajụjụ ọmụmụ dị iche iche emebere iji kwado nghọta gị wee nyere gị aka ịmata otú ị ghọtara ihe ndị a kụziri.

Ị ga-ahụ ngwakọta nke ụdị ajụjụ dị iche iche, gụnyere ajụjụ chọrọ ịhọrọ otu n’ime ọtụtụ azịza, ajụjụ chọrọ mkpirisi azịza, na ajụjụ ede ede. A na-arụpụta ajụjụ ọ bụla nke ọma iji nwalee akụkụ dị iche iche nke ihe ọmụma gị na nkà nke ịtụgharị uche.

Jiri akụkụ a nke nyocha ka ohere iji kụziere ihe ị matara banyere isiokwu ahụ ma chọpụta ebe ọ bụla ị nwere ike ịchọ ọmụmụ ihe ọzọ. Ekwela ka nsogbu ọ bụla ị na-eche ihu mee ka ị daa mba; kama, lee ha anya dị ka ohere maka ịzụlite onwe gị na imeziwanye.

  1. A maximum price set below the equilibrium price will cause: A. a surplus B. a shortage (excess demand) C. no change D. higher supply Answer: B
  2. An indirect tax on a good will: A. shift the demand curve right B. shift the supply curve left, raising price C. shift the supply curve right D. lower the price Answer: B
  3. Transferring a business from government ownership to private ownership is called: A. nationalisation B. regulation C. privatisation D. direct provision Answer: C
  4. A minimum price set above the equilibrium price causes: A. a shortage B. a surplus (excess supply) C. no effect D. lower supply Answer: B
  5. Which is an advantage of a subsidy on public transport? A. it raises the price of travel B. it reduces government spending C. it lowers the price and increases use D. it shifts supply to the left Answer: C

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Ị chọrọ ime ajụjụ ule ọmarịcha gbasara Mixed Economic System? Budata ngwa Green Bridge CBT iji nweta ajụjụ ule ọmarịcha na nyocha zuru ezu gbasara isiokwu a.

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