MIXED ECONOMIC SYSTEM VSISLAMIC ECONOMIC SYSTEM Group 3
MIXED ECONOMIC SYSTEM W AT? H com om se bet w pr i een capi t al i sm and soci al i sm i t t akes t he val uabl e of bot h. , M aysi a, I ndonesi a, Thai l and, Spai n al
CHARACTERISTICS Coexistence of Public and Private Sector Government Regulation and Prices Government Regulation and Market Imperfection Government Intervention and Income distribution Public Sector and Social Objectives Promotion of Private Sector Deregulation, Liberalization and Privatization
ADVANTAGES People can make their own decisions The government has limited control which is good for structure Provides freedoms All national resources are utilized under mixed economy. Mixed Economies have active government support and direction.
DISADVANTAGES efficiency property reduces in progressively higher degree encourage more state monopolies often turn into closed economies hindering international trade and globalization incentivise corruption and political- bureacracy-capitalist nexus enjoying at the cost of the citizens
ISLAMIC ECONOMIC SYSTEM its salient features and important values can be discussed. It is also a blend of natural features present in Capitalism.
CHARACTERISTICS Equitable distribution of Income Prohibition of Interest Spending in a way of Allah Protection of Rights Provision of justice Equality of Opportunities No Gender and Ethnic Discrimination