Before we can discuss the advantages and disadvantages of both market and mixed economies, we first need to know the meaning of both. A market economy is a system where an individual and/or company possess a major portion of property, industry and other economic resources. A mixed economy is a system where both the private and government sectors have equal possession of property, industry and other economic resources. (Wild, Wild, Han, 2006) In a market economy supply and demand is the main factor when determining who manufactures what product, the price of such product, labor and capital. (Wild, Wild, Han, 2006) Advantages seem to be more for the companies rather than the consumers. Such as price fluctuation. The prices are only low and affordable when the supply is low causing the demand to be high. Thus the prices are high and unaffordable when the supply is high causing the demand to be low. This is an advantage for the company, but a disadvantage for the consumer. One advantage for the consumer is they have freedom of choice. This means the consumer has various options to choose from, so they can decide on what to purchase. Another advantage for a company is free enterprise. They are in control of who to employ, what consumer segments to sell to, and what direction to take the business that will create more revenue for them. Another disadvantage is it creates a competitive market thus exploiting the working class and under privileged. One more disadvantage is in the competitive market they are more concerned with efficiency rather than quality. They look at what is going to be the cheapest and fastest route in getting the product to market. At times thiscauses some companies to cut corners, thus the product is not always of the best quality. There again the c ...