What term describes an economic system with free enterprise alongside government control?

The term that describes an economic system characterized by free enterprise alongside government control is a mixed economy. In a mixed economy, both private and public sectors coexist, allowing for entrepreneurial initiatives alongside government intervention to regulate or stabilize the economy.

This system enables a balance between efficiency and equity, as the market is free to operate while the government steps in to address social welfare, public goods, and issues such as market failures. The combination helps in mitigating the inequalities often found in pure capitalist systems and provides a safety net for citizens.

Other systems mentioned, such as a capitalist economy, focus heavily on private ownership and limited government interference. A socialist economy, on the other hand, emphasizes social ownership and often involves significant government control over production and resources. A command economy features strict government control without the entrepreneurial freedom typical of a mixed economy.