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The public (or state) sector typically supplies public, quasi-public and merit goods and intervenes in markets to correct perceived market failure.
A mixed economic system (also known as a Dual Economy) is just like it sounds (a combination of economic systems), but it primarily refers to a mixture of a market and command economy (for obvious reasons, a traditional economy does not typically mix well). Moreover, a mixed economy contains the best part of the features that a command economy and a market economy have which means it is the most comprehensive system that can help a developed country to manage the market and the economy among the whole country.
A mixed economy is an economic system that incorporates aspects of more than one economic system. This usually means an economy that contains both privately-owned and state-owned enterprises or that combines elements of capitalism and socialism, or a mix of market economy and planned economy.
Mixed economy is an economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies.
The economists have find the weakness of command economy and free-mark economy, and increasing number of countries realize mixed economy is the best way to develop.
Malaysia is a mixed economy, our government allows that our market can do our own thing, but there also have a few of the policies in place to control over the certain thing. There is not every single product or industry need government to control, but some of the product should be under government control.