Which of the following is a characteristic of a mixed economy? (2020)

₹0.0

Question: Which of the following is a characteristic of a mixed economy? (2020)

Options:

Correct Answer: Coexistence of private and public sectors

Exam Year: 2020

Solution:

A mixed economy features the coexistence of both private and public sectors, allowing for a balance between free market and government intervention.

Which of the following is a characteristic of a mixed economy? (2020)

Which of the following is a characteristic of a mixed economy? (2020)

Step 1: Understand what a mixed economy is. It is an economic system that combines elements of both capitalism (private ownership) and socialism (government ownership).
Step 2: Identify the two main sectors in a mixed economy: the private sector (businesses owned by individuals) and the public sector (government-owned services and industries).
Step 3: Recognize that in a mixed economy, both sectors work together. The private sector operates freely, while the government intervenes to regulate and provide certain services.
Step 4: Conclude that a characteristic of a mixed economy is the balance between free market activities and government intervention.

No concepts available.