SSC MTS EXAM

Detailed explanation-1: -The following points make clear that Indian economy is a mixed economy: (i) Medium of Planning; (ii) Objectives of Planning; (iii) Public Sector; (iv) Private Sector; and (v) Relation between Public and Private Sector.

Detailed explanation-2: -Indian Economy consists of mixed economy. A mixed economy refers to an Economic system where both private and government enterprises co-exist. The economy is therefore classified into two sectors i.e., the private sector and public sector.

Detailed explanation-3: -There are three main types of economies: free market, command, and mixed. The chart below compares free-market and command economies; mixed economies are a combination of the two.

Detailed explanation-4: -The summary economic classification (NES), adopted by INSEE in 1994, is an aggregate, national, double (economic activities, products) classification which is relevant for economic analysis.