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(ii) Freedom:
Under this system, both private and public sectors work for the
efficient use of resources. Public sector works for social benefit
while private sector makes the optimum use of these resources for
maximisation of profit.
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Under this system, the main priority is given to social welfare
through effective economic, planning. The private sector is
controlled by the government. Production and price policies of
private sector are determined to achieve maximum social welfare.
Under this system, both government and private sector join their
hands for the development of socio-economic infrastructures,
Moreover, government enacts many legislative measures to safe
guard the interests of the poor and weaker section of the society.
Hence, for any underdeveloped country, mixed economy is a right
choice.
(i) Un-stability:
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