BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A mixed economy is variously defined as an economic system blending elements of a market economy with elements of a planned economy, markets with state interventionism, or private enterprise with public enterprise. Common to all mixed economies is a combination of free-market principles and principles of socialism.

Detailed explanation-2: -Mixed Economy vs. Free Markets Mixed economic systems are not laissez-faire systems, because the government is involved in planning the use of some resources and can exert control over businesses in the private sector.

Detailed explanation-3: -A market economy is a type of economic system where supply and demand regulate the economy, rather than government intervention. A true free market economy is an economy in which all resources are owned by individuals.

Detailed explanation-4: -mixed economy, in economics, a market system of resource allocation, commerce, and trade in which free markets coexist with government intervention.

Detailed explanation-5: -There is a role for government in a market economy. Government provides certain goods and services. These services are paid for by taxes, and include such things as providing for the national defense, protecting the environment, and protecting property rights.