BS-Classification of businesses, Page no 14 #BS #Classificationofbusinesses

A mixed economy is an economic system that combines elements of both market economies and planned economies, blending various degrees of government intervention and private enterprise. In this system, the means of production, such as factories, resources, and businesses, are owned and operated by both the private sector (individuals or corporations) and the public sector (the government). This coexistence allows for a balance between the freedom of the market to allocate resources and government regulation to correct market failures, ensure social welfare, and provide public goods.

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