1.1.5 The mixed economy
- Syllabus
- 2026
- Topic
- 1.1.5
- Level
- —
1.1.5.a Mixed economy
Definition of mixed economy.
1.1.5.b Public and private sector
Definition of public and private sector.
1.1.5.c Public and private sector ownership, control and aims
Difference between public and private sectors in terms of ownership, control and aims.
1.1.5.d What, how and for whom to produce in a mixed economy
How the problems of what to produce, how to produce and for whom to produce are solved in the mixed economy.
1.1.5.e Market failure and inefficient resource allocation
Concept of market failure – linked to inefficient allocation of resources.
1.1.5.f Why governments intervene in markets
Why governments might need to intervene because of market failure.
1.1.5.g Public goods and the free-rider problem
Define public goods by non-excludability and non-rivalry, and explain how these characteristics cause the free-rider problem.
1.1.5.h Public and private sector roles in production
The role of the public sector and private sectors in the production of goods and services.
1.1.5.i Relative importance of public and private sectors
The relative importance of public sector and private sector in different economies.
1.1.5.j Privatisation
Definition of privatisation.
1.1.5.k Effects of privatisation on stakeholders
Effects of privatisation on:
- consumers
- workers
- businesses
- government.
Objective notes
11 learning objectivesConceptIGCSE Economics