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A mixed economy is variously defined as an economic system blending elements of market economies with elements of planned economies, free markets with state interventionism, or private enterprise with public enterprise.What economies are called mixed economies?
A mixed economy is that economy which includes the aspects of more than one economic system. A mixed economy contains both government-owned and privately-owned enterprises or is a combination of the characteristics of planned (Command) economy and market economy or is a combination of the characteristics of socialism and capitalism.Which describes a mixed economy?
Mixed economy. In most cases and particularly with reference to Western economies, a mixed economy refers to a capitalist economy characterized by the predominance of private ownership of the means of production with profit-seeking enterprise and the accumulation of capital as its fundamental driving force.What do you understand by the term "mixed economy"?
Key Takeaways A mixed economy combines market, command, and traditional economies. It has both the advantages and disadvantages of other types of economies. Most countries have a mixed economy thanks to globalization.