Question

"Mixed economies are a golden path of economic development ".give reason in support of the statement

Answer 1

Answer:

A mixed economic system is a system that combines aspects of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims

Explanation:

Answer 2

Mixed economies are a golden path of economic development

Explanation:

• A mixed economy is an economy that includes capitalism and socialism. It shows the public and private partnership.  

• It consists of a price mechanism and government control that are determined by the industrialist and capitalist. In a mixed economy, the sovereignty of the country is protected.

• It establishes the economic inequality in the society employment balanced regional development and family welfare is emphasized.

• The government intervention to prevent the undue concentration of economic power and restrict trade practices.

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