The advantages of a mixed economy include efficient production and allocation of
resources, as well as improvement of social welfare.It also encourages private
initiative. There is freedom of choice. It ensures that income is distributed
equitably. It ensures economic development. It ensures job security and
employment. The disadvantage of mixed economies is that they tend to lean more
toward government control and less toward individual freedoms,High Taxes, and
Bad Regulation. An example of bad regulations is the US requires nearly one-third
of workers to have an occupational license. This ranges from the hairdressers, to
dance teachers, to dog walkers. In some states, to become a hairdresser, you must
have a high school diploma, whilst you need a license to walk dogs.