ECONOMICS (CBSE/UGC NET)

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 socialist system does not have a separate estate because everything is controlled by the government. Mixed economy: Mixed systems have characteristics of both the command and the market economic system. For this purpose, the mixed economic systems are also known as dual economic systems.

Detailed explanation-3: -Which of the following is a correct statement about a mixed economy? In a mixed economy, most economic decisions are made in markets but the government plays a significant role in the allocation of resources.

Detailed explanation-4: -Overview: The Advantages of a Mixed Economy A mixed economy permits private participation in production, which in return allows healthy competition that can result in profit. It also contributes to public ownership in manufacturing, which can address social welfare needs.

Detailed explanation-5: -Mixed economy is one in which both public and private enterprises exist together, with some level of freedom to utilize capital for profit making.