Question

In a mixed market economy, who makes most of the daily economic decisions?

Answer 1

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MIXED ECONOMY➡

✴These are the economies where the economic activities are governed by the free play of market forces but are regulated by the government.

✴Economic decisions are driven by the motive of both profit maximization and social welfare.

✴The consumer is sovereign. However, PDS (Public Distribution System) ensures the supply of essential goods to the consumers.

✴Resources are controlled by the government and by the people. Prices are determined by the market. But,the government regulates/controls the prices of essential goods .

✴Both public and private sectors dominate the economic activity.

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