Mixed Economy

A mixed economy is a system that combines elements of both capitalism and socialism. In this type of economy, private individuals and businesses own and operate most resources and enterprises, while the government also plays a significant role in regulating and providing certain services, such as healthcare and education. This approach allows for a balance between free market competition and government intervention to promote social welfare, ensure economic stability, and address inequalities. The goal is to leverage the strengths of both systems to create a more efficient and equitable economy.