Question

What is the concept of mixed economy? Do you consider it to be a desirable environment from the socio economic point of view?

Answer 1

An economic system in which both the private enterprise and a degree of state monopoly (usually in public services, defense, infrastructure, and basic industries) coexist. All moderneconomies are mixed where the means of production are shared between the private and public sectors. Also called dual economy.

Answer 2

Explanation:

Mixed economy is that economy in which both government and private individuals exercise economic control.” –Murad. Meaning: It is a golden mixture of capitalism and socialism. Under this system there is freedom of economic activities and government interferences for the social welfare.