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 Mixed economy means :
  • a)
    Co-existence of small and large industries
  • b)
    Promoting both agriculture and industries in the economy
  • c)
    Co-existence of rich and poor
  • d)
    Co-existence of public and private sectors
Correct answer is option 'B'. Can you explain this answer?
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Mixed economy means :a)Co-existence of small and large industriesb)Pro...
Mixed Economy:
A mixed economy is an economic system that combines elements of both a market economy and a planned economy. It is characterized by the co-existence of public and private sectors and the co-existence of different types of industries. Here is a detailed explanation of what a mixed economy means:
Co-Existence of Public and Private Sectors:
- A mixed economy allows for the presence of both public and private sectors in the economy.
- The public sector includes government-owned or controlled enterprises and industries.
- The private sector consists of privately owned businesses and industries.
Co-Existence of Small and Large Industries:
- In a mixed economy, there is room for both small-scale and large-scale industries to coexist.
- Small industries typically refer to businesses that are independently owned and operated on a smaller scale.
- Large industries, on the other hand, are characterized by significant capital investment and a higher level of production.
Promoting Both Agriculture and Industries in the Economy:
- A mixed economy recognizes the importance of both agriculture and industries in the economic development of a country.
- It aims to promote the growth and development of both sectors to ensure a balanced and sustainable economy.
Co-Existence of Rich and Poor:
- While a mixed economy does not necessarily guarantee equal distribution of wealth, it allows for a coexistence of rich and poor individuals.
- The presence of both public and private sectors provides opportunities for wealth accumulation and economic mobility for individuals.
In conclusion, a mixed economy refers to an economic system that combines elements of both a market economy and a planned economy. It involves the co-existence of public and private sectors, the co-existence of small and large industries, and the recognition of the importance of both agriculture and industries in the economy.
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Features of a Mixed Economy:A mixed economy is an economic system that combines elements of both a market economy and a planned economy. It incorporates features of both private enterprise and government intervention. The correct answer is D, as all of the following features are characteristic of a mixed economy:1. Planned economy:A mixed economy includes elements of a planned economy, where the government plays a role in guiding and regulating economic activities. It formulates economic plans and policies to ensure the efficient allocation of resources and to promote economic stability.2. Dual system of pricing:In a mixed economy, there exists a dual system of pricing, which means that both market prices and government-set prices coexist. While market forces determine prices for most goods and services, the government may intervene to regulate prices in certain sectors to protect consumers or promote social welfare.3. Balanced regional development:Another characteristic of a mixed economy is the emphasis on balanced regional development. The government intervenes to ensure that economic growth and development are not concentrated in specific regions or industries but are spread across different regions and sectors. This helps to reduce regional disparities and promote overall economic stability and social welfare.Benefits of a Mixed Economy:A mixed economy offers several benefits due to its combination of market forces and government intervention. Some of these benefits include:1. Economic efficiency:By incorporating market mechanisms, a mixed economy allows for resource allocation based on supply and demand, which promotes economic efficiency. Market forces encourage competition, innovation, and productivity, leading to higher levels of economic growth.2. Social welfare:Government intervention in a mixed economy enables the provision of public goods and services that may not be adequately provided by the market alone. This includes areas such as healthcare, education, infrastructure, and social security, ensuring a certain level of social welfare and equity.3. Stability and regulation:The government's role in a mixed economy helps to maintain economic stability through macroeconomic policies such as fiscal and monetary measures. It also regulates certain sectors to prevent market failures, protect consumer rights, and ensure fair competition.Conclusion:A mixed economy combines the advantages of both market forces and government intervention. It allows for economic efficiency, social welfare, and stability. The features of a mixed economy include elements of a planned economy, a dual system of pricing, and balanced regional development. These features work together to create a system that promotes both economic growth and social welfare.

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Mixed economy means :a)Co-existence of small and large industriesb)Promoting both agriculture and industries in the economyc)Co-existence of rich and poord)Co-existence of public and private sectorsCorrect answer is option 'B'. Can you explain this answer?
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