What are the characteristics of a mixed economy

A mixed economy is one which is in stark contrast to 100% capitalism or socialism. In fact, a mixed economy is a realistic model that is practiced by most countries around the world.

Explanation:

Some characteristics of a mixed economy are:

1. The government has complete control over public goods such as education, healthcare, policing, defense and infrastructure development.

2. At the same time, there is freedom for private enterprise and people can start their own business and earn a living.

3. There is freedom to conduct private business but the government does regulate. For example, regulation of food or the drug industry is required.

4. The government encourages private business but also tries to plan the economy in order to provide opportunities for everyone.

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