Mixed economic system is an economic system in which the government and individuals are used to decide how to use their resources.
In short, Mixed economic system means the practice of both the Capitalism and Socialism.
Capitalism, also known as capital economic system means the economic system where the individual of the country are the major unit who control the affairs of the economy. That is, where individuals controls the country's trade and industry for profit.
Socialism means the economic system where the government of the country are the major unit who control the affairs of the economy. This means the government controls the country's trade and industry.
Mixed economic system the economic system where both the government and private individual controls the country's trade and industry.
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