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2.11 Mixed economic system

Unit 2.11 - Mixed economic system

This section of the Cambridge IGCSE Economics (0455) syllabus covers the following topics:

SectionTopicsGuidance
2.11.1Definition of the mixed economic system-
2.11.2Government intervention to address market failure

Definitions, drawing and interpretation of appropriate diagrams showing the effects of three government microeconomic policy measures: maximum and minimum prices in product, labour, and foreign exchange markets; indirect taxation; and subsidies.

The implications of other government microeconomic policy measures: regulation; privatisation and nationalisation; and direct provision of goods.

The effectiveness of government intervention in overcoming the drawbacks of a market economic system.

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