Question

three merits of indian economy

Answer 1

1. Adequate Freedom: Mixed economy also permits adequate freedom to different economic units: (a) Consumers are free to dispose of their incomes in a manner they want, although the government does try to influence these decisions through monetary, fiscal and commercial policies, (b) Factors of production are free to choose their own occupations although again the Government may strive to create conditions favourable for the growth of chosen occupations.(c) Private initiative is always encouraged to find it’s best possible use. 2. Maximum Welfare: In mixed economic system, the state makes efforts to provide maximum welfare to workers and other citizens. The government makes provision for the employees for housing, education, minimum wages, good working conditions, etc. 3. Modern Technology: In mixed economy, the modern technology and capital saving method is used, with the result large- scale production and profit could be possible. Reserve fund is created to meet any undesired situation in future. It produces more at the time of trade boom and utilise the reserve capital when there is recession.

Answer 2

Freedom.
Social welfare.
Optimum uses of resources.