Can somebody please explain what a market and mixed economy is? I am having trouble understanding it and I need to explain it in my project. Thanks!!=

From Internet:

Market Economy as per the Economics dictionary refers to an economic system in which the allocation of resources is determined solely by supply and demand in the market. Having said that, there are limitations on market freedom in some countries where governments intervene in free markets to promote competition, which might not be there otherwise. Mixed Economy. Mixed Economy refers to the market economy where both private and public enterprises participate in economic activity.

Did you know?

Did you know that a market economy is an economic system where resources and production decisions are primarily driven by the interactions of buyers and sellers in the marketplace? In this type of economy, individuals and businesses have the freedom to make choices regarding what to produce, how to produce it, and who to exchange it with. On the other hand, a mixed economy combines characteristics of both market and command economies. In a mixed economy, the government plays a significant role in economic decision-making by regulating certain industries, providing public goods and services, and implementing social welfare programs. This mixture allows for a balance between individual freedom and government intervention in order to promote both efficiency and social equity.