ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-2: -A mixed economic system is a system that combines aspects of both capitalism and socialism.

Detailed explanation-3: -A mixed economy is a blend of market and command economies. In a mixed economy some parts or sectors of the economy are left to private ownership (market) while in other sectors there is substantial government ownership or government-directed production (command).

Detailed explanation-4: -Mixed economy Theoretically, it may refer to an economic system that combines one of three characteristics: public and private ownership of industry, market-based allocation with economic planning, or free markets with state interventionism.