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Mixed Economy
Mixed economy refers to the economic system where the economic activities are directed by both private and the government. In other words, it is the market economy which is regulated by the government or the state. Mixed economy reflects characteristics of both market and planned economy. At present, most real world economies are mixed economy.
Roles of government in a mixed economy:
The government of any economy following the mixed economy system is subjected to be more cautious than any other economy. The following explains such a checklist and role of the government.
Regulation of law
The law and legal procedures to be framed and inveigle in such a way where it does not make cumbersome the free entry and exit of private enterprises and at the same while the fraudulent should be minimized.
Stimulating economic growth
The government has to encourage the firms to invest more in the economy by favoring them a friendly environment. The growth of private enterprise helps the economy in its progression. This progression is possible only if the private firms are willing to open up their firms in the economy.