Mixed economic system
A mixed system an economic system that countries adopt that combines both a free market system and a command system. Countries do this to help the citizens living in said country by having programs that, pay for those who are unemployed, retired, or disabled. They do this by taking the tax money from those who are employed and are earning enough, so those who are unemployed can get back on their feet. Many of the people that pay taxes see this as a negative, because it means they must pay more money in taxes; but these taxes extremely useful; it pays for public health care, public education, the police force, any Government research and much more. Another reason that countries adopt a mixed economic system is people can still own their own private enterprise and still Government assets. Countries do this so they do not move too far right to a left market system, there are flaws in this system though, for example: Hong Kong has one of the lowest minimum wages of any country in the world, because of the lack of Government intervention. Command systems help this problem by assigning everyone a house, and has everyone payed a fair amount. But command systems are not perfect. North Korea is an example of extreme communism, where there is no variation in lifestyle, you have set jobs, set hairstyles, and the government rules with an iron fist. Practically brain washing their citizens into believing that Kim Jon Un is their 'savior' with all his 'great deeds'. As can be seen mixing the positives of both the free market economy and command economy, but not using the negative aspects though. A disadvantage of this economy is that the Government tends to lean more towards a communist view, missing out on the advantages of a free market system. In conclusion all economic systems have their disadvantages and advantages, with the mixed system taking the advantages of both systems and mixing them (get it) to create one singular efficient economy.