Question

India’s economy is of mixed type. Give an explanation.

Answer 1

India’s economy is considered to be of mixed type because both the public as well as the private exist in the market.

Both have the right to operate and there is no hindrance regarding the operation.

Together both the sectors help in the growth of the country to boost the economy and bring the desired change.

Public and private sectors are the basis of the Indian economy with privatization making a big difference.

Answer 2

Answer:

In a mixed economy public and private sector exits at the same time or in the same place they live in an agreement in spite of different beliefs or interest, a balance is maintained between profit and social welfare, all this is seen in Indian economy hence India's economy is mixed type.