Advantages And Disadvantages of Socialism And Mixed Economy - SS1 Economics Past Questions and Answers - page 1
What is an advantage of socialism?
Increased consumer choice
Reduced economic inequality
Increased economic growth
What is a disadvantage of socialism?
Lack of government control
Reduced consumer choice
Increased economic competition
What is an advantage of mixed economy?
Increased government control
Reduced economic inequality
Increased economic competition
What is the disadvantage of a mixed economy?
Reduced consumer choice
Increased economic inequality
Reduced government control
What is the disadvantage of socialism?
Increased economic competition
Lack of incentive
Increased consumer choice
Why is conflict a disadvantage of a mixed economy?
Mixed economy can create conflict between the government and private companies over control of certain industries.
What is an advantage of a mixed economy?
Mixed economy can provide economic stability as it balances the benefits of both socialism and capitalism.