A mixed economy is an economic system that combines elements of both capitalism (market economy) and socialism (planned economy). In a mixed economy, both the private sector (businesses and individuals) and the government play significant roles in economic decision-making.

Features of a Mixed Economy:

1. Private Ownership: Individuals and businesses can own and operate private enterprises, produce goods, and provide services.

2. Government Intervention: The government regulates certain industries, provides public goods and services (such as healthcare, education, and infrastructure), and may control or regulate the production of certain essential items.

3. Market and Price Mechanism: Goods and services are allocated based on supply and demand, but the government may intervene to ensure fairness and protect consumers.

4. Social Welfare Programs: The government often provides social safety nets (e.g., unemployment benefits, pensions) to support the welfare of citizens.

Countries like India, France, and the United States have mixed economies, where both market forces and government policies influe

nce the economy.