The Swedish economy is characterized by a mixed model that combines free market principles with a strong welfare state. It is known for its high standard of living, low unemployment rates, and a robust social safety net. Key sectors include manufacturing, services, and technology, with major companies like Volvo and Ericsson contributing significantly to economic growth. Sweden has a reputation for innovation and sustainability, often ranking high in global competitiveness. The country benefits from a well-educated workforce and a stable political environment, which attract foreign investment. Additionally, Sweden's commitment to environmental sustainability influences its economic policies and practices.