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