4. CAPITALISTIC ECONOMY SOCIALISTIC ECONOMY
PRIVATE PROPERTY
RIGHT TO INHERITANCE
FREEDOM OF
ENTERPRISE
FREEDOM OF CHOICE
FOR CONSUMERS
PRICE MECHANISM
PROFIT MOTIVE
SELF INTEREST
LAISSEZ FAIRE STATE
SOCIALISTIC OWNERSHIP
OF RESOURCES
ECONOMIC PLANNING
SOCIAL WELFARE AS A
MOTIVATING FORCE
ECONOMIC EQUALITIES
CLASSLESS SOCIETY
ELIMINATION OF
COMPETITON
COMPARISON
6. • SPIRIT OF ENTERPRISE
• INCENTIVE FOR
TECHNOLOGICAL PROGRESS
• EFFICIENT USE OF RESOURCES
• INCENTIVE FOR CAPITAL
FORMATION
• NEW CONSUMER GOODS
7. • FLEXIBILTY AND ADAPTABILITY
• AUTOMATIC WORKING
• ECONOMIC FREEDOM
• INCREASE IN PRODUCTION AND
STANDARD OF LIVING
• EXPANSION OF
INTERNATIONAL TRADE
12. MIXED ECONOMY
CO EXISTENCE OF PUBLIC AND
PRIVATE SECTORS
CO EXISTENCE OF CAPITALISTIC
AND SOCIALISTIC FEATURES
ECONOMIC PLANNING
PROMOTION OF SOCIAL WELFARE
PRICE MECHANISM
PROFIT MOTIVE
PRESERVATION OF FREEDOM
REGULATION AND CONTROL OF
PRIVATE SECTOR
14. • BETTER ALLOCATION OF RESOURCES
• FULLER UTILISATION OF RESOURCES
• ELIMINATION OF ECONOMIC INSTABILITY
• EQUITABLE DISTRIBUTION OF INCOME
• ELIMINATION OF CLASS STRUGGLE
15. • PROVISION OF SOCIAL
SECURITY
• INCREASE IN PRODUCTIVE
EFFICIENCY
• RAPID ECONOMIC GROWTH
• PRODUCTION OF MORE USEFUL
GOODS
21. • PROPER ALLOCATION OF
RESOURCES
• ECONOMIC STABILITY
• ADVANTAGES OF THE MARKET
SYSTEM
• RAPID ECONOMIC DEVELOPMENT
• CHECK ON CONCENTRATION OF
ECONOMIC POWER
23. • CONFLICT BETWEEN THE PUBLIC
AND PRIVATE SECTORS
• SHORT-LIVED NATURE
• INEFFICIENT OPERATION
• POOR PERFORMANCE OF THE
PUBLIC SECTORS
• EXCESSIVE REGULATIONS