Question

what is indian economy? what is mixed economy?

Answer 1

The economy of India is a developing mixed economy.[35] It is the world's seventh-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). The country is poised to become a US$ 5 trillion economy by 2025 as envisioned by Indian Prime Minister Narendra Modi that requires securing 9 percent average annual economic growth rate until then

A mixed economy is variously defined as an economic system blending elements of market economies with elements of planned economies, free markets with state interventionism, or private enterprise with public enterprise

Answer 2

ANSWER

______________________________________

•The word 'economy' refers to economic activities of a well defined area or a region. It may be village, a district, a city, a country or the whole world.

______________________________________

•What is Mixed economy :-

•Mixed economy is a mixed form of capitalism and socialism. In this economy, the best elements of capitalism as well as socialism are present and bad features of both are avoided.

______________________________________

•It appreciates the advantages of private enterprise and private property with their emphasis on self-interest and profit motive.

______________________________________

#answerwithquality

#BAL

______________________________________