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Question
Answer the following question in one or two sentences.
What is meant by a mixed economy?
One Line Answer
Solution
- The mixed economy is the one in which both the public and private sectors co-exists.
- The public sector is owned and run by the government e..g. services like defense, atomic energy, railway, while the private sector is owned and managed by private individuals, e.g. Agriculture.
- India has adopted a mixed economy to solve its basic economic problems.
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Mixed Economy
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