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A mixed economy is a market based economic system in which the government is involved to some extent. Another name for the Mixed economy system would be Socialism or Capitalism.
In mixed economies, people believe in government control to an extent and an economic doctrine that opposes governmental regulation of or interference in commerce beyond the minimum necessary for a free-enterprise system to operate according to its own economic laws, also known as laissez-faire.
Mixed economies express characteristics of mainly capitalism and socialism.
In a mixed economy a mixture of the government and people determine what's to be produced. In a mixed economy the government produces the products the public feels the government needs to produce that private firms don't or can't. Private firms however, produce what ever they want, how ever they want, and to whom they want.
The term mixed economy came to be during the post war period during a political debate in the United Kingdom. Although, the set of policies were advocated from the 1930's.