BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -In a mixed economy, both public and private sectors own and produce goods and services. While private players participate in the production of goods and services, the government makes major decisions for the economy keeping social welfare in mind. This keeps a check on economic disparity.

Detailed explanation-2: -Governments may seek to redistribute wealth by taxing the private sector and by using funds from taxes to promote social objectives. Trade protection, subsidies, targeted tax credits, fiscal stimulus, and public-private partnerships are common examples of government intervention in mixed economies.

Detailed explanation-3: -A mixed economy is partly run by the government and partly as a free market economy, which is an economic system that includes no government intervention and is mainly driven by the law of supply and demand.

Detailed explanation-4: -In a mixed economic system, the private sector and public sector co-exist. There is a certain level of economic freedom so that the private sector can decide the use of capital and seek profits. It simultaneously allows the government to intervene in some economic activities and industries.