BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Co-existence of small and large industries
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Co-existence of public and private industries
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Co-existence of the rich and poor
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Promoting both agriculture and industries in the economy
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Detailed explanation-1: -A mixed economy combines the characteristics of capitalism and socialism. Essentially, a country with this kind of economy comprises public and private sectors, wherein private enterprises aim for profit maximisation, while the Government sector works towards the welfare of the citizens.
Detailed explanation-2: -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-3: -In a mixed economy, both public and private sectors own and produce goods and services. While private players participate in the production of goods and services, the government makes major decisions for the economy keeping social welfare in mind. This keeps a check on economic disparity.
Detailed explanation-4: -mixed economy, in economics, a market system of resource allocation, commerce, and trade in which free markets coexist with government intervention.
Detailed explanation-5: -A mixed economy refers to an Economic system where both private and government enterprises co-exist.