what is mixed economy
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an economic system combining private and state enterprise.
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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.
➡️There is no single definition of a mixed economy, but rather two major definitions.
➡️There are three main types of economies: free market, command, and mixed. The chart below compares free-market and command economies; mixed economies are a combination of the two.
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