Mixed Economic System

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Dictionary Says

Definition of 'Mixed Economic System'

An economic system that includes a mixture of capitalism and socialism. This type of economic system includes a combination of private economic freedom and centralized economic planning and government regulation.
Investopedia Says

Investopedia explains 'Mixed Economic System'

There are many countries around the world that are either capitalist or socialist, with countries ranging from the United States to Cuba being referred to as mixed economies. A capitalist system is based on private ownership, labor, personal profit and investments. In contrast, a socialist economy is controlled and regulated publicly, usually through mechanisms like government bodies and planning councils.

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