Business & Finance
Politics and Government

What is a mixed economy?

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December 19, 2016 7:20PM

Generally speaking a mixed economy is one where the government has controls over private industry through various types of regulations. One example is the setting of the minimum wage. For the most part a mixed economy does not require the government to actually own any of the means of production. Also, a mixed economy creates "authorities" to operate tunnels, bridges and airports.

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December 19, 2016 7:17AM

A mixed economy is an economic system that incorporates a mixture of private and government ownership or control, or a mixture of capitalism and socialism

Today, most practice a mixed economy. On one hand the government still controls a number of the largest companies. On the other, private individuals have been given the chance to own businesses.