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Essay / Free market economy - 608
Mixed economy: “in this type of economy, there is a balance between market forces and state intervention. The view is that some activities should be regulated by the state while others can be left to market influence. A mixed economy typically includes: • A free enterprise sector, where economic decisions are based on market forces • Public ownership and control of key central industries • A social welfare sector to provide a minimum level of medical services , social and educational for all citizens, whatever their wealth. (BPP, 2010, pp. 138-170), ), (Doc.mbalib.com. 2013) Transition economy: » A transition economy is an economy that moves from central planning to free markets. Since the collapse of communism in the late 1980s, the countries of the former Soviet Union and its satellite states, including Poland, Hungary and Bulgaria, have sought to embrace market capitalism and abandon planned planning. centralized. However, most of these transition economies have faced serious short-term difficulties and long-term development constraints. (Economicsonline.co.uk, 2013), ), (Doc.mbalib.com.