What is meant by 'mixed economy'?
Both private and public sectors
A mixed economy is one in which both the private sector and the public sector coexist and contribute to economic activity. Private firms own and run a substantial part of production, while the government also owns and operates key enterprises, regulates markets, and provides public goods.
India is a classic example: the Industrial Policy Resolutions (1948 and 1956) and the Constitution's Directive Principles laid the foundation for this dual structure.
Hence the correct answer is Both private and public sectors.
Similar Questions
Which of the following comes under the Quarternary sector?
Private ownership of the means of production is a feature of a _______ economy.
In ________ economies, all productive resources are owned and controlled by the government.
A situation where the expenditure of the government exceeds its revenue is known as _____.
Which among the following is not a direct tax?
Which tax causes a burden on the poorer section of the society?
Short run marginal cost curve cuts the short run average cost curve from _______ at the minimum point of short run average cost.
Goods for which demand move in the opposite direction of the income of the consumer are called?
If the ___________ firm has zero costs or only has fixed cost, the quantity supplied in equilibrium is given by the point where the average revenue is zero.
Who takes the decision regarding the savings and loan activities in a Self Help Group (SHG)?
Important Questions from Economy
When goods are produced by exploiting natural resources, it is an activity associated with:
A system in which local farmers were allowed to cultivate temporarily within a plantation is known as:
Which goods from India dominated the international textile markets before the age of mechanized industries?
Which type of farming is practiced in areas of high population pressure on land?
The major economic attribute for comparing countries is their:
