Overview: The usual view in a mixed economy is that some goods and services are produced privately and some, such as transportation, are produced publicly. Private institutions, such as households and entrepreneurs, produce and con sume goods and services in pursuing their parochial interests, while the pub lic sector attempts to broaden public interests. More precisely, the public sector constructs new transportation systems, improves their capaci ties, and regulates services and prices; and the private sector chooses locations of pro duction, modes of transportation, and routes of shipmel
|