Hayat Ashraf

A mixed economy is an economic system that combines elements of both market capitalism and government intervention. In a mixed economy, the government and private sector coexist and play roles in economic activities. It is characterized by a combination of private ownership and control of resources, as well as government regulation and provision of certain goods and services. In a mixed economy, the private sector operates businesses and engages in market activities based on market forces such as supply and demand, competition, and profit motives. The government, on the other hand, intervenes in the economy to promote social welfare, address market failures, and ensure equitable distribution of resources. Some key features of a mixed economy include: 1. Private Ownership: Private individuals and businesses have the right to own and control property, assets, and means of production. They have the freedom to start businesses, make investments, and engage in trade. 2. Government Regulatio...