A mixed economy has strong elements of both what?

A Mixed Economy exhibits characteristics of both market and planned economies, with private and state sectors providing direction.

Explanation:

A mixed economy allows private participation in production while ensuring that society is protected from the full swings of the market. Mixed economies allow many more freedoms than command economies, such as the freedom to possess the means of production; to participate in managerial decisions; to buy, sell, fire, and hire as needed; and for employees to organize and protest peacefully. Mixed economies have a high level of state participation and spending, leading to tax-funded libraries, schools, hospitals, roads, utilities, legal assistance, welfare, and social security. Various restrictions on business are made for the greater good, such as environmental regulation, labor regulation, antitrust and intellectual property laws. The ideal combination of these freedoms and restrictions is meant to ensure the maximum standard of living for the population as a whole.