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
The relation between the consumer’s optimal choice of the quantity of a good and its price is very important and this relation is called the ________ function.
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.
The consumption of fixed capital is also known as _________.
Fisher’s quantity theory is explained by his famous equation given as ________.
Machines, tools and Implements, and buildings are examples of which type of goods?
When did the first 5 year plan start?
In which union budget was India's first sovereign wealth fund named 'National Investment and Infrastructure Fund (NIIF)' announced?
The national poverty line for 2011-12 was estimated at _________ per capita per month for urban areas of India.
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:
