Final answer:
A mixed economy combines elements of both a command economy and a market economy, with the government regulating and providing some level of control over certain sectors of the economy.
Step-by-step explanation:
A mixed economy is an economic system that combines elements of both a command economy and a market economy. In a mixed economy, the government and private businesses coexist, with the government regulating and providing some level of control over certain sectors of the economy.
For example, in a mixed economy, key industries might be owned and controlled by the government, while most businesses are privately owned and operated. The government also plays a role in regulating and overseeing economic activities to ensure fair competition and protect consumer rights.
Some countries that have mixed economies include the United States, many countries in Europe and Latin America, and even countries like China and Russia that have moved towards market-oriented systems but still retain some elements of command economies.