ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -All modern economies are mixed economies, with private and public sectors sharing production resources, also known as a dual economies.

Detailed explanation-2: -The mixed economy definition is an economy where both the private market and the government control the factors of production. It is the most common form of economy that exists in the world today.

Detailed explanation-3: -The mixed economic system is defined as an economic system that combines the elements of a market economy and the elements of a planned economy. It is a synthesis of socialism and capitalism, which contains both private enterprises and public enterprises. Most modern economies implement a mixed economic system.