Which of the following best describes a mixed economy?a)The market decides what to produce, how to produce and how to distribute what is produced.b)The government decides what to produce, how to produce and how to distribute what is produced.c)The government and market together make decisions on what to produce, how to produce and how to distribute what is produced.d)There is no role of government and market in a mixed economyCorrect answer is option 'C'. Can you explain this answer?

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Which of the following best describes a mixed economy?

a)
The market decides what to produce, how to produce and how to distribute what is produced.
b)
The government decides what to produce, how to produce and how to distribute what is produced.
c)
The government and market together make decisions on what to produce, how to produce and how to distribute what is produced.
d)
There is no role of government and market in a mixed economy

Correct answer is option 'C'. Can you explain this answer?

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Which of the following best describes a mixed economy?a)The market de...

c) The government and market together make decisions on what to produce, how to produce and how to distribute what is produced.

A mixed economy is an economic system that combines elements of a market economy with elements of a planned economy. In a mixed economy, the government and the market both play a role in the production, distribution, and allocation of goods and services.

In a mixed economy, the market is allowed to function freely and make decisions based on the laws of supply and demand. However, the government also plays a role in regulating certain aspects of the economy, such as protecting consumers and promoting social welfare. The government may also own and operate certain industries or provide public goods and services.

In a mixed economy, the government and the market work together to make decisions on what to produce, how to produce it, and how to distribute it. This allows for a balance between the efficiency of the market and the stability and fairness provided by government intervention.

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Which of the following best describes a mixed economy?a)The market decides what to produce, how to produce and how to distribute what is produced.b)The government decides what to produce, how to produce and how to distribute what is produced.c)The government and market together make decisions on what to produce, how to produce and how to distribute what is produced.d)There is no role of government and market in a mixed economyCorrect answer is option 'C'. Can you explain this answer?

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Which of the following best describes a mixed economy?a)The market decides what to produce, how to produce and how to distribute what is produced.b)The government decides what to produce, how to produce and how to distribute what is produced.c)The government and market together make decisions on what to produce, how to produce and how to distribute what is produced.d)There is no role of government and market in a mixed economyCorrect answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following best describes a mixed economy?a)The market decides what to produce, how to produce and how to distribute what is produced.b)The government decides what to produce, how to produce and how to distribute what is produced.c)The government and market together make decisions on what to produce, how to produce and how to distribute what is produced.d)There is no role of government and market in a mixed economyCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following best describes a mixed economy?a)The market decides what to produce, how to produce and how to distribute what is produced.b)The government decides what to produce, how to produce and how to distribute what is produced.c)The government and market together make decisions on what to produce, how to produce and how to distribute what is produced.d)There is no role of government and market in a mixed economyCorrect answer is option 'C'. Can you explain this answer?.

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