A mixed economy is an economic system that combines elements of both capitalism and socialism. In this system, private individuals and businesses own and operate most of the resources and industries, while the government also plays a significant role in regulating the economy and providing public services. This balance aims to harness the benefits of free markets while ensuring social welfare. In a mixed economy, the government may intervene to correct market failures, provide public goods, and promote economic stability. Examples of countries with mixed economies include United States, Canada, and many nations in Europe, where both private enterprise and government involvement coexist.