ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A mixed economy has some aspects of both socialism and government control. This means that some industries are controlled by private businesses and individuals, while other industries are controlled by the government.

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: -In a capitalistic society, individuals and businesses aim to earn a profit with the production of their investment and labor in a free market operating largely by supply and demand. Socialism is when the government owns and/or controls productive enterprises. A mixed economy is aspects of both.

Detailed explanation-4: -In a command economy, the system is controlled by the government. A mixed economy is partly run by the government and partly as a free market economy, which is an economic system that includes no government intervention and is mainly driven by the law of supply and demand.

Detailed explanation-5: -A market economy is a type of economic system where supply and demand regulate the economy, rather than government intervention.