BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Market
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Mixed
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Command
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Traditional
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Detailed explanation-1: -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.
Detailed explanation-2: -A mixed economy is defined by the co-existence of a public and private sector.
Detailed explanation-3: -Indian economy is a mixed economy because here both private and public sector co-exist and both work under the general guidance of economic planning.
Detailed explanation-4: -Examples include the economies of China, Norway, Singapore, and Vietnam-all of which feature large state-owned enterprise sectors operating alongside large private sectors.
Detailed explanation-5: -Countries like England, France, and India follow the mixed economic system where both, the state and private players, have control over the resources of distribution.