Unit 2.11 Mixed Economic System

Front

Mixed market system

Back

an economy that has both private sector firms and a government supplying

Front

maximum price control

Back

prices are not permitted to rise above a certain level set by the government

Front

minimum price control

Back

prices are not permitted to fall below a certain level set by the government

Front

fixed exchange rate system

Back

maintain a country's exchange rate within a very narrow band against other currencies

Front

subsidy

Back

an amount of money given to a firm to lower the cost of supplying the good or service to the market

Front

regulation

Back

the imposition of rules by government, backed by the use of penalties that are intended to modify the behaviour of individuals and firms in the private sector

Front

privatisation

Back

the transfer of ownership from government to private sector

Front

nationalisation

Back

the transfer of ownership from private sector to government