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The economic system in which both public and private sectors co exist is known as ___economy.
  • a)
    capitalism
  • b)
    socialism
  • c)
    democratic
  • d)
    republic
Correct answer is option 'B'. Can you explain this answer?
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The economic system in which both public and private sectors co exist ...
“Mixed economy is that economy in which both government and private individuals exercise economic control.” –Murad.
It is a golden mixture of capitalism and socialism. Under this system there is freedom of economic activities and government interferences for the social welfare. Hence it is a blend of both the economies. The concept of mixed economy is of recent origin.
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The economic system in which both public and private sectors co exist ...
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Socialism is a range of economic and social systems characterised by social ownership of the means of production and workers' self-management, as well as the political theories and movements associated with them. Social ownership can be public, collective or cooperative ownership, or citizen ownership of equity.

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The economic system in which both public and private sectors co exist is known as ___economy.a)capitalismb)socialismc)democraticd)republicCorrect answer is option 'B'. Can you explain this answer?
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