Advantages and Disadvantages of a Mixed Economy of economic systems 2-3Recommendations 3The advantages of a mixed economy 3The disadvantages of a mixed economy 3Conclusion 4Bibliography............................ ...... ............................................ ................. ............................ .......5INTRODUCTIONAn economy is a management of resources in which people manufacture/produce goods and services. There is an economic basis for every country, a government policy that serves as the basis for the distribution of goods and the regulation of resources that is never bad or good in any respect. When the South African economy embarked on a period of unprecedented/unexpected rapid growth accompanied by rapid improvements in technology and science, it was decided to group all types of economy together according to their functions and their capabilities. According to economic theory, there are basically four types of economic system in South Africa, namely: command system, market system, traditional system and mixed system. All of these types of systems are equally important in terms of the different paths they follow. There are also benefits and consequences to every economic system, and there are balances that can be struck through compromise, sacrifice, and a willingness to consider the well-being of all. In South Africa, the current operating system is a mixed economic system.Literary reviewTraditional economics“A traditional economy is a system where...... middle of paper...... they cannot control, because the government controls tax collection and spending. . Business owners rarely like paying taxes because it reduces their profits. Finally, government control over the economy can sometimes be considered inadequate due to the lack of decisions made by states on certain economic levels. Conclusion As we have discussed and highlighted the differences between all the economic systems that exist, we can conclude by saying: we have a diversity of economic systems in South Africa. Their impact on the country is well noted and critically examined to see how much its contribution has influenced the nation level. Each type of economic system has its peculiarities and the mixed economy has proven to be the best economic system currently in use simply because of the modern life we live in.BibliographyInternet Sources.

Essay / Advantages and Disadvantages of a Mixed Economy of economic systems 2-3Recommendations 3The advantages of a mixed economy 3The disadvantages of a mixed economy 3Conclusion 4Bibliography............................ ...... ............................................ ................. ............................ .......5INTRODUCTIONAn economy is a management of resources in which people manufacture/produce goods and services. There is an economic basis for every country, a government policy that serves as the basis for the distribution of goods and the regulation of resources that is never bad or good in any respect. When the South African economy embarked on a period of unprecedented/unexpected rapid growth accompanied by rapid improvements in technology and science, it was decided to group all types of economy together according to their functions and their capabilities. According to economic theory, there are basically four types of economic system in South Africa, namely: command system, market system, traditional system and mixed system. All of these types of systems are equally important in terms of the different paths they follow. There are also benefits and consequences to every economic system, and there are balances that can be struck through compromise, sacrifice, and a willingness to consider the well-being of all. In South Africa, the current operating system is a mixed economic system.Literary reviewTraditional economics“A traditional economy is a system where...... middle of paper...... they cannot control, because the government controls tax collection and spending. . Business owners rarely like paying taxes because it reduces their profits. Finally, government control over the economy can sometimes be considered inadequate due to the lack of decisions made by states on certain economic levels. Conclusion As we have discussed and highlighted the differences between all the economic systems that exist, we can conclude by saying: we have a diversity of economic systems in South Africa. Their impact on the country is well noted and critically examined to see how much its contribution has influenced the nation level. Each type of economic system has its peculiarities and the mixed economy has proven to be the best economic system currently in use simply because of the modern life we live in.BibliographyInternet Sources.

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