What is a planned economy, free economy, and mixed economy?

Mixed Economy. A mixed economic system has features of both a command and a free market system. A mixed economy is partly controlled by the government and partly based on the forces of supply and demand. Generally, a mixed economic system involves a public sector and a private sector. read more

Mixed economy is a system that practises a mix of the two, planned and free economics. Economy is in a number of ways and degrees regulated and controlled by government but free market still plays its profound and firsthand role. read more

Planned economy, as denoted by the term, is an economic system that is planned and organized, usually by a government agency. Planned economies do not entertain the free market flow decisions, but they are centrally planned. read more