mixed economy
mixed economy An economy which combines elements of the market economy with elements of a command economy; that is, combines characteristics of capitalism and socialism. In a mixed economy, some but not all of the activities of production, distribution, and exchange are organized by the state, and the state generally plays a larger role in setting policy, rules, and objectives, and in controlling labour, than would occur in a purely market economy.
The term is sometimes used more loosely to refer to an economy which includes any elements other than a pure market economy, for example pockets of subsistence farming in particular areas of the country.
The term is sometimes used more loosely to refer to an economy which includes any elements other than a pure market economy, for example pockets of subsistence farming in particular areas of the country.
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mixed economy
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mixed economy