Question

write the short note- mixed economy​

Answer 1

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

Answer 2

Explanation:

Mixed economy works as the middle way to adopt good points and ignore bad points of both market system and socialist system. The public and private sector, together enjoy decision making, management and ownership of business units.

Mixed economy is free from any major interference of the state. However, due to government’s intervention in various important sectors, the evil of monopoly, high profiteering, adulteration and duplication are controlled. Economic planning is always in the centre in the process of economic decision in the mixed economy. Social welfare increases in mixed economy.