Question

Explain 'mixed economy' in detail.

Answer 1

mixed economy is that economy in which both government and private individuals exercise economic Control.


Mixed economy can be classified into two types:
1. Capitalistic Mixed Economy
2. Socialistic Mixed Economy

Some main features of mixed economy can be:
1. There is a personal freedom.
2. Co-existence of private and public sectors.
3. Private property is allowed.
4. We can go for economic planning also.
5. Profit motive and social welfare can also be included!


Hope this may help u!

Answer 2

Mixed Economy

An economic system in which both the private enterprise and a degree of state monopoly (usually in public services, defense, infrastructure, and basic industries) coexist. All modern economies are mixed where the means of production are shared between the private and public sectors. Also called dual economy.

USAGE EXAMPLES

Education, though principally a public enterprise, is becoming more of a mixed economy service with the advent of religious and charter schools.

In the U.S. , the market would be considered a mixed economy unlike most European countries that favor a state-owned resources.

After subscribing to the idea of communism for many years, Steve decided that the best kind of economy was a mixed economy.

Hope it helps..!!

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