GENERAL KNOWLEDGE

Detailed explanation-1: -A mixed economic system is a system that combines aspects of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims.

Detailed explanation-2: -A mixed economy is a system which consists of a mixture of either markets, public ownership and private ownership. The political definition of mixed economy means it is a mix of public and private ownership of enterprises in the economy and is not concerned with political forms and public policy.

Detailed explanation-3: -mixed economy, in economics, a market system of resource allocation, commerce, and trade in which free markets coexist with government intervention.

Detailed explanation-4: -Examples include the economies of China, Norway, Singapore, and Vietnam-all of which feature large state-owned enterprise sectors operating alongside large private sectors.

Detailed explanation-5: -In a mixed economy both market forces and government decisions determine which goods and services are produced and how they are distributed.