Explain mixed economic system. What are its main features, merits and demerits?

A mixed economic system is an economic framework that incorporates elements of both capitalism and socialism. It aims to combine the advantages of a free market economy with the benefits of government intervention to ensure social welfare and economic stability. In the context of social policy and social development, a mixed economy plays a crucial role in balancing economic growth with social justice, reducing income inequality, and promoting sustainable development.

A mixed economy allows private enterprises to operate freely while ensuring government intervention in key sectors such as healthcare, education, infrastructure, and social welfare. This combination helps address market failures and ensures that economic benefits reach all sections of society. The government may regulate industries, impose taxes, provide subsidies, and implement social policies to promote equitable distribution of resources and protect vulnerable groups.

### Main Features of a Mixed Economic System
1. Coexistence of Public and Private Sectors  
   In a mixed economy, both private businesses and state-owned enterprises operate together. While the private sector drives innovation, competition, and efficiency, the public sector ensures essential services like healthcare, education, and social security.

2. Government Intervention in Economic Activities  
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