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Study the cartoon given below carefully and answer the questions that follow:
Q. Which type of economic model was adopted by India?
  • a)
    Capitalist
  • b)
    Socialist
  • c)
    Liberal socialist
  • d)
    Mixed economic principle
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
Study the cartoon given below carefully and answer the questions that...
India did not accept the model in which development was left entirely to the private sector, nor did they follow in which private property was abolished and all the production was controlled by the state. Hence, they took elements from both these models and mixed them together. That is why it was described as ‘mixed economy’.
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Mixed economic principal
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Study the cartoon given below carefully and answer the questions that follow:Q. Which type of economic model was adopted by India?a)Capitalistb)Socialistc)Liberal socialistd)Mixed economic principleCorrect answer is option 'D'. Can you explain this answer?
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