What best describes a mixed economy?

A mixed economy is characterized by the combination of both private enterprise and government intervention in economic activities. It integrates elements of capitalism—such as private ownership and the freedom to operate and profit in businesses—with socialist principles that allow for government regulation and public services to address social welfare and economic disparities.

This balance enables a mixed economy to leverage the efficiency and innovation of the private sector while ensuring that essential services and welfare provisions are met through government oversight and public ownership where necessary. By being partially capitalist and partially socialist, a mixed economy aims to create an environment that supports economic growth while also striving to provide equitable outcomes for its citizens.

The description of a mixed economy specifically excludes complete government control or total reliance on free market principles, which distinguishes it from purely socialist or purely capitalist systems.