Mixed Economy does have the characteristics of both Capitalism and Socialism. It has the level of private economic freedom but the government also have the right to interfere to the economic activities just to make sure that they achieve their aims. This is less efficient than capitalism but more efficient than socialism. |
There are kinds of system under Command Economy. One is Communism. Communism focuses on the progress of the nation that means the government has the control over the production and the usage of the resources. Opposite to that is the Socialism which focuses on the control of the people of one nation. The public and collective ownership of the production is present and also it values the effort of the workers than the product itself. |