difference between market economy and mixed economy

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Market economy refers to those economy under which major economic decision is taken by producers.Producers take decision on the basis of freeplay of market forces and profit maximisation is sole motive while in mixed economy major economic decision( what ,how and whom to produce)are taken by producer as well as govt. or any authorised dept. For example in India producers are free to take decision about the production of iron but railways are the monopoly ofgovernment and govt gives service at nominal rates.This economy carries advantage and disadvantage of both market and centrally planned economy.
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