ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-2: -Key Takeaways. The government has control over a command or planned economy. In mixed economies, the government has some control, while the rest is up to supply and demand.

Detailed explanation-3: -Mixed Economy-Key takeaways Most countries throughout the world use some type of mixed economy system. Some examples of countries in which the government takes a leading role in the economy are Vietnam, Norway, Singapore, and France.

Detailed explanation-4: -In a mixed economic system, the private sector and public sector co-exist. There is a certain level of economic freedom so that the private sector can decide the use of capital and seek profits. It simultaneously allows the government to intervene in some economic activities and industries.

Detailed explanation-5: -The Mixed Economy incorporates the benefits of capitalism and socialism while avoiding their drawbacks. Under a Mixed Economy, the private and public sectors coexist.