ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Most modern economies feature a synthesis of two or more economic systems, with economies falling at some point along a continuum. The public sector works alongside the private sector, but they may compete for the same limited resources.

Detailed explanation-2: -Most modern countries’ economies are mixed economies consisting of both free market and command economy. The commonality of that state stems from the fact that a mixed economy allows the government to utilize the advantages of both command and open economies and minimize the disadvantages of both economic systems.

Detailed explanation-3: -The statement is true. Most modern economies are mixed economies. Mixed economies refer to an economic system that has combined private and state enterprises.

Detailed explanation-4: -Answer and Explanation: The answer is B. Most countries have some degree of capitalism as their economic system.

Detailed explanation-5: -Most of the main economies in the world are now mixed economies, which operate under a combination of socialism and capitalism, and governments in most mixed economies use fiscal or monetary policies to stimulate growth during economic slowdowns.