Economics Mixed Economy Questions
A mixed economy promotes economic growth by combining elements of both market and planned economies. It allows for private ownership and entrepreneurship, which encourages innovation, competition, and efficiency in the allocation of resources. At the same time, it also includes government intervention and regulation to address market failures, provide public goods and services, and ensure social welfare. This combination helps to create a favorable environment for economic growth by balancing the benefits of free markets with the need for government intervention to promote stability and equity.