

Mixed Economic System

Mixed Economic System Definition

Mixed Economic System is a combination of capitalism and socialism. A capitalist economy is based on private economic freedom, while a socialist system is controlled by government bodies. In a mixed system both market forces and centralized economic planning are used to determine resource allocation and prices.

Additional meaning of Mixed Economic System:

The U.S. Economy is often referred to as a mixed economy, because it relies to a great extent upon markets, while government also regulates the economy.

Mixed economy

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