Which of the following is a strength of a mixed economy?

A mixed economy is characterized by a combination of both private enterprise and government involvement in economic decision-making. This strength lies in its ability to leverage the benefits of both free market systems and government regulation. By incorporating aspects of a free market, a mixed economy encourages innovation, efficiency, and competition, which can stimulate economic growth and provide a variety of goods and services to consumers. At the same time, government intervention allows for regulation to address market failures, protect consumers, ensure fair competition, and provide public goods.

This balance helps to mitigate the extremes often associated with purely free market or command economies. For instance, while a free market can lead to wealth concentration and inadequate provision of public services, a mixed economy seeks to prevent these issues through appropriate government policies. Therefore, the key strength of a mixed economy is its capacity to adapt and respond to societal needs while promoting economic efficiency and social welfare, making it the most balanced approach among the choices provided.