explain the difference between a social market economy and a

explain the difference between a social market economy and a mixed economy

Solution

Social market economy is an economic system that is run by the government that makes the decisions related to production and pricing of goods and services in the economy.This is system that is totally opposite of the free economy in which there is no government interference.

Mixed economy comes in middle of free economy and government control social economy. That means mixed economic system is a economy that is partly run by the government and partly by the demand & supply forces of the economy. It is the mixed of private and public sector.