ENTREPRENEURSHIP

Detailed explanation-1: -A mixed economy features many of the desirable qualities of both capitalism and socialism, as well as some of their drawbacks. This type of economy allows the government to provide public goods and a basic safety net while enjoying the productivity of a market-based economy.

Detailed explanation-2: -In a planned economy, the decisions on investment, production, distribution and pricing are taken by the government. In contrast, market economies do not have a decision maker but they operate on free market flows.

Detailed explanation-3: -A mixed economic system has features of both a command and a free-market system. because it is partly controlled by the government and partly based on the forces of supply and demand.

Detailed explanation-4: -The Mixed Economy is a system that combines capitalism and socialism. The Mixed Economy incorporates the benefits of capitalism and socialism while avoiding their drawbacks. Under a Mixed Economy, the private and public sectors coexist.