What are the cons of a mixed market economy for most citizens? check all that apply. there may be a sizable gap between rich and poor people. it can be very difficult for citizens to start private businesses. citizens must pay for most basic necessities by themselves. there is no guarantee of steady employment for many citizens. citizens may pay higher taxes than in other economic systems. citizens often purchase their own health care and higher education.

These are all that APPLY:

There may be a sizable gap between rich and poor people.

I'm living on food stamps right now and my friends have 2-3 story mansions with pools in their backyards. Convinced yet?

Citizens often purchase their own health care and higher education.

Rich people often enroll their children in private schools which are higher levels of education. Common knowledge that we purchase our own health care.

There is no guarantee of steady employment for many citizens.

I've seen many people jump from job to job. My father for one lost his job to an unexpected event. Therefore it isn't steady.

Citizens must pay for most basic necessities by themselves.

-We constantly buy water and food, and we even have to buy a roof over our heads. These are all basic necessities.

There are many cons of a mixed market economy for most citizens. It includes a sizeable gap between rich and poor people, citizens must pay for most necessities by themselves, no guarantee of steady employment for many citizens, citizens may pay higher taxes than in other economic systems, and purchase their health care and higher education.  

EXPLANATION:  

•There may be a sizable gap between rich and poor people

In a mixed market system economy when one party receives a greater share than the other parties, it will create a gap. The rich will be richer and the poor will be poorer. It can be proven by the fact that 1% of the wealthiest Americans own 40% of the country’s wealth. While 40% of American households are categorized as middle class.  

•Citizens must pay for most necessities by themselves

Nowadays, Americans have to constantly buy their necessities such as food and water. Not to mention the price of necessities in America. Honestly, it is rather difficult for middle and low-class households to earn money to fulfill their needs.  

•There is no guarantee of steady employment for many citizens

No one can guarantee that the government will avoid risk to the state. There is a chance that the government will put the country or states into risk. It creates an unsteady condition for many citizens such as unclear employment.  

•Citizens may pay higher taxes than in other economic systems

The mixed market economy serves various benefits to the country. On the other hand, it also brings higher tax rates. It is because the operation of government is funded from the revenues and taxation. The taxation and revenues are from the citizens’ business and chartered companies. Thus, as US citizens we have to pay higher tax rates.  

•Citizens often purchase their health care and higher education

The same condition when citizens have to fulfill their necessities, we also have to purchase our health care and higher education. Yet, it also causes the gap between the rich and the poor where the rich enroll study to the private and bonafide school while the poor don’t. It also happens in health care.  

LEARN MORE:  

If you’re interested in learning more about this topic, we recommend you to also take a look at the following questions:

1. The main mechanism that regulates the market system is?  

2. An example of a product with a purely competitive market is?  

KEYWORDS: mixed market economy, disadvantages mixed market economy  

Subject: Social studies  

Class: 7-9

Sub-chapter: Mixed market economy  

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