ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In a mixed economy, the market is neither completely free nor fully controlled by the state. Countries like England, France, and India follow the mixed economic system where both, the state and private players, have control over the resources of distribution.

Detailed explanation-2: -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-3: -Most developed countries have mixed economic systems. Such a system has characteristics of both command and market economies.

Detailed explanation-4: -Despite those philosophical and moral objections, almost all modern economic systems in the world today are mixed economies. While the globalization of the world economy limits government intervention in free trade, governments still retain mechanisms for social welfare exceptions to the free market rule.

Detailed explanation-5: -It is the most common form of economy that exists in the world today. All of the major developed and developing nations are a mixed economy, as well as many of the smaller developed and developing nations. This is due to the fact that a completely capitalist economy, for example, has never existed.