What characterizes a mixed economic system?

A mixed economy is a system that combines characteristics of market, command and traditional economies. It benefits from the advantages of all three while suffering from few of the disadvantages. A mixed economy has three of the following characteristics of a market economy. read more

Since a mixed economy includes a mix of both private and government control, it reflects characteristics of both capitalism and socialism. The balance between the two ideals can vary greatly between countries, sometimes leading to a lack of consensus on whether the economy is capitalist, socialist or mixed. read more