Question

Explain any three characteristics of mixed economy. Answer in detail.
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Answer 1

Answer:

Mixed economy is a form of economy in which the government and the market together solve the central problems of what,how and for whom to produce. The market will produce whatever goods it can produce well on its own and the government will intervene and provide those goods which the market is unable to produce. In a mixed economy,basic needs of the poor people are met as well as the needs of the affluent consumers.Indi is an example of a country having a mixed economic framework.

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Answer 2

Explanation:

An economy is a system whereby goods are produced and exchanged. Without a viable economy, a state will collapse. There are three main types of economies: free market, command, and mixed. The chart below compares free-market and command economies; mixed economies are a combination of the two.