Definition, Meaning & Synonyms
mixed-economy
noun
/mɪkst ɪˈkɒnəmi/
Definition
A mixed economy is an economic system that combines elements of both capitalism and socialism.
Examples
- Many countries operate under a mixed-economy model, balancing free market principles with government regulation.
- The mixed-economy approach can lead to efficient resource allocation while ensuring social welfare.
Meaning
In a mixed economy, the private sector coexists with the public sector, allowing for both private ownership of property and government intervention in economic activities.
Synonyms
- hybrid economy
- dual economy
- blended economy
