Private property ownership and some government regulation of the economy are basic characteristics of which economic system?

Answer: Mixed economy

Explanation:

A mixed economy is an economy that allows private enterprise to run their various business alongside government bodies. A mixed economy comprises of capitalism and socialism. They give room to private enterprise operations, with freedom in the use of capital although government still has some regulations over them for social benefits. The private enterprise are allowed to own even larger industries such as manufacturing but they are still regulated by government policy.