WORLD HISTORY

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: -In a mixed economy, the market is neither completely free nor fully controlled by the state. Countries like England, France, and India follow the mixed economic system where both, the state and private players, have control over the resources of distribution.

Detailed explanation-3: -There is no one definition of what a mixed economy is, but in modern western economies, it typically refers to an economic system that marries a profit-motivated, capitalist free market economy and the civic welfare concerns of a socialist economy.

Detailed explanation-4: -The U.S. has a mixed economy, exhibiting characteristics of both capitalism and socialism. Such a mixed economy embraces the free market when it comes to capital use, but it also allows for government intervention for the public good.