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 combines market and command economy elements, with both private and government ownership of resources and businesses and a mix of free markets and government intervention in economic decision-making.

Detailed explanation-4: -Characteristics of Mixed Economies A mixed economy has three of the following characteristics of a market economy. First, it protects private property. Second, it allows the free market and the laws of supply and demand to determine prices. Third, it is driven by the motivation of the self-interest of individuals.

Detailed explanation-5: -Mixed economy is one in which both public and private enterprises exist together, with some level of freedom to utilize capital for profit making. However, government interference is expected to achieve social aims. It is, however, coexistence of capitalism and socialism. Was this answer helpful?