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Answer :
A mixed economy is an economic system that incorporates elements of both capitalism and socialism. It allows for private ownership of businesses and property, but also includes government intervention in areas such as public services, taxation, and regulation.
Characteristics of a Mixed Economy
In a mixed economy, the government plays an active role in regulating the economy, while also allowing private enterprise and individual ownership of businesses and property. It allows businesses to operate in a competitive market while also providing some social safety nets, such as unemployment insurance and public health care. The government also sets regulations to protect the environment and workers. Mixed economies offer a combination of private and public ownership, and provide a degree of economic freedom, while also ensuring that the public good is taken into account.
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