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Is the mix in the UK economy about right? The UK economy combines factors of both a free market economy and one which is fully planned. This brings both advantages and disadvantages as it limits the power of market forces, but on the other hand restricts the influence the government has over supply and demand. Since the 1980s the government in the UK has steadily reduced its involvement in the economic system. This has been done through privatisation, which means handing over control of services to private companies and investors, for example British Gas or Railtrack. A free market economy revolves around the central concept of supply and demand. Consumers make individual decisions about purchases for their own self-interest whilst producers aim to make the largest profits by supplying exactly what the consumers desire. Resources are not allocated by the government or any state organisation but via the price mechanism. This means...

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