Mixed economy
A mixed economy is a economic system combining private and state enterprise. A great thing about this economic system is that it combines the best 2 economic systems and puts them together. Countries decide to choose this economic system because it is more beneficial for countries. This is because other economic systems (command, traditional and market) all have one key element that overrules everything else. Such as in a traditional economic system traditions over power everything else. But in a mixed economic system the impact of any failures is reduced. A great example of this is how the Australian government subsidises farmers in times of drought. This demonstrates that the mixed economic system is a balance of private enterprise producing items and the government providing assistance so that the economy still functions. This further proves why most countries adopt the mixed economic system.