ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A mixed economy is a system that combines elements of both a market economy and a command economy. In a mixed economy, some resources and businesses are privately owned while others are owned by the government, and both free markets and government intervention play a role in economic decision-making.

Detailed explanation-2: -A mixed economic system has features of both a command and a free-market system. because it is partly controlled by the government and partly based on the forces of supply and demand.

Detailed explanation-3: -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-4: -A capitalist economy is characterized by private ownership of factors of production, while a socialist economy is characterized by state ownership of factors of production. A mixed economy, on the other hand, is characterized by private and state ownership of factors of production.

Detailed explanation-5: -Market Theory Market economies work using the forces of supply and demand to determine the appropriate prices and quantities for most goods and services in the economy.