ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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In this economic system, the government usually provides environmental protections, employment standards, and welfare:
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traditional
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command
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market
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mixed
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Explanation:
Detailed explanation-1: -Trade protection, subsidies, targeted tax credits, fiscal stimulus, and public-private partnerships are common examples of government intervention in mixed economies.
Detailed explanation-2: -mixed economy, in economics, a market system of resource allocation, commerce, and trade in which free markets coexist with government intervention.
Detailed explanation-3: -In India’s mixed economy, the Government aims to work for the welfare of its citizens.
Detailed explanation-4: -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.
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