It refers to an economic model that uses the market to allocate resources, but in which the State intervenes to regulate its operation, incorporates elements of the free market economy and the planned economy, or a proposal in which property coexists deprived of capitalism and the collective property of socialism (in general, and not exclusively, state or public) in order to include broader social considerations in an economic system, for example, ethics, social justice, social welfare, sustainable management of environment, etc.
A mixed economy is a system of economy which is comprised of the elements of free markets with the interventions of government or private business with public business and planned economies. In the context of the Western Economies, this term is used to describe a capitalist economy identified by the control of private possession of the means of production with profit-seeking business and the collection of capital as its major driving power.
