Amadeo 1: Definition

• Its a combination of market, command and traditional economies
• The Constitution in the mixed economy protects the requirements of a market economy
• It has private property, limitations on the governments interferences, and promoting innovation.
• It encouraged the government to promote the general welfare
• The mixed economy has the ability to effect the command economy

Amadeo 1:Pros

• It seeked all advantages of a market, command, and traditional
• Most of them have 3 out of 4 out of the market economy: private property, pricing, and individual self-interest
• They have a command economy in different areas
• They have managed health care, welfare, and retirement programs for the elderly
• Mixed economy has owned key industries, like banks and energy productions

Amadeo 1: Examples

• Many still funded and gave powers to the royalty or the emperors
• Most mixed economies followed different traditions that they were not even aware of yet.
• Most of the world's largest economies are now part of the mixed economy

Amadeo 2: Market economy

• The U.S. has six characteristics in the market economy
• Their private property has to be protected by the law
• Everybody in the market economy was free to live, work, produce, buy, and sell whatever they pleased
• They bought and sold goods that were driven by self-interest
• The sellers got the higher prices, so the buyers could get the best value in money

Amadeo 2: Market Economy

• Their competition was protected
• Prces had floated freely during the market economy
• The government made sure that the market was protected, and everyone had free access to it
• It had regulations that manipulated the markets, and that it ensured everyone had equal access to all the information