Question

Explain the concept and rationale of Mixed Economy

Answer 1

Answer:

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. There is no single definition of a mixed economy. One definition is about a mixture of markets with state interventionism, referring specifically to capitalist market economies with strong regulatory oversight, interventionist policies and governmental provision of public services. The other definition is apolitical in nature, strictly referring to an economy containing a mixture of private enterprise with public enterprise.

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