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What is mixed economy model ?
A mixed economy is one in which there exists a mixture of free enterprise and government control. In some areas of a mixed economy, the government may even have a monopoly. Most of the developed countries of the world have a mixed economy. The mixture of two different economic philosophies can imply a variety of consequences for a country, some of which are seen as beneficial, while others are neutral or detrimental. Mixed economies are also known as dual economies.
An economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies.
In this mixed economy, individuals can help guide the economy not only through the choices they make as consumers but through the votes they cast for officials who shape economic policy. In recent years, consumers have voiced concerns about product safety, environmental threats posed by certain industrial practices, and potential health risks citizens may face; government has responded by creating agencies to protect consumer interests and promote the general public welfare.


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