A mixed economy blends capitalism and socialism by combining private enterprise with government intervention. The government regulates industries, provides public services, and aims for fair resource distribution while encouraging private sector growth. Taxes fund essential services like education and healthcare and help reduce economic inequality, balancing efficiency with social welfare.
simplize this but still 3 sentences: A mixed economy merges aspects of capitalism and socialism, combining private enterprise with government involvement. In this system, the government regulates industries, offers public services, and promotes fair distribution of resources while still fostering private sector growth. Taxes are used to finance essential services like education and healthcare, as well as to address economic inequality, striking a balance between economic efficiency and social welfare.
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