Answer:
Mixed economic system
Explanation:
A mixed economic system is a mix between the command and market economy. In a mixed economy, the government is in charge of major means of production and in charge of regulation to ensure fairness while other businesses are privately owned.
In a command economy, it is the government that owns all the means of production.
In a free market economy, there's no government intervention and the private sector is in charge of all production decisions.
The advantages of a mixed market economy:
1. Limited government intervention in the market ensures the economy runs more efficiently.
2. Government regulation ensures that the market runs fairly.
3. Consumers have more choices on products to buy.
