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Advantages And Disadvantages Of Mixed Economic System

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Economic System
There are many economic system in the study of economy .Economy system is the structure of production, distribution of economic input and output and consumption of goods and services in an economy. There are 3 types of economic system which are planned economy system (command economy), mixed economy system and free market system (market economy). Therefore, different countries have different economy system.

The Mixed Economy System Of Malaysia
Mixed economy system is the halfway arranged economy system joining free market economy system. In straightforward words, mixed economy incorporates free undertaking and government control or some type of direct mediation by government. There are some characteristic for mixed economy. …show more content…

For example, government can increase the tax on imported cars in order to favour government owned car production companies. This case is very common in Malaysia with the government’s high task on imported cars designed to favour Malaysian owned car manufactures that have ties with the government. As indicated by the before proclamation about Preferential treatment for Malay possessed organizations as far as government approaches that aides towards giving them a high competitive edge over organizations. This special treatment comes as higher access to credit and lower importation tax.

Advantages and disadvantages of mixed economy in Malaysia
A clear understanding of the various economic systems has been presented in relation to their definitions, comparative analysis and problems faced in each of these economic systems.

Advantages of mixed …show more content…

This is another disadvantage as can be seen in the global firms that keep up nearness in the nation. This is on the grounds that there is a requirement for competitiveness be on a level ground if these organizations are to be gainful, yet the note from all sign is that the odds of these organizations to victories are constrained because of the constraint in their focused limit on the grounds that the administration has officially given the nearby firms a higher upper hand by forcing higher task on international brand, and limiting the chances of these global brand to adopt price based-competitive

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