write the positive aspects of mixed economy with regard to India
Answers
Answer:
A mixed economy is a system that combine features of both socialism and capitalism
Explanation:
Positive ascepts regarding India
India too is a mixed economy and it has adopted this approach post independence.
The industrial policies have helped the private and the public sector co-exist.
With the liberalisation of Indian economy, the opportunities for the expansion and the growth of private sector are enhanced.
It helps in economic growth.
It had laid foundation for the technological, scientific and industrial development.
Citizens in mixed economy can enjoy both economic and occupational freedom.
It leads to optimum use of resources.
It reduces economic disparity.
Hello !
Mixed Economy is neither pure capitalism nor pure socialism but a mixture of the two system. In this system we find characteristics of both capitalism and socialism. Mixed economy is operated by both, private enterprise and public enterprise.
A mixed economy has three of the following characteristics of a market economy. First, it protects private property. Second, it allows the free market and the laws of supply and demand to determine prices. Third, it is driven by the motivation of the self-interest of individuals.
Most mixed economies have some characteristics of a command economy in strategic areas.
It allows the federal government to safeguard its people and its market. The government has a large role in the military, international trade, and national transportation.
The government’s role in other areas depends on the priorities of the citizens. In some, the government creates a central plan that guides the economy. Other mixed economies allow the government to own key industries. These include aerospace, energy production, and even banking. The government may also manage health care, welfare, and retirement programs.
Most mixed economies retain characteristics of a traditional economy, but those traditions don't guide how the economy functions. The traditions are so ingrained that the people aren’t even aware of them. For example, they still fund royal families. Others invest in hunting and fishing.
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