Mixed Economy Definition
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Question (English)
In a mixed economy:
- Only the government answers economic questions
- Only the market answers economic questions
- Government and market together answer economic questions ✓ Correct
- Foreign companies decide what to produce
Explanation:
Correct Answer Explanation
In a mixed economy, government and market together answer the three questions of what, how, and how to distribute.
Key Points:
- Market provides goods and services it can produce well.
- Government provides essential goods the market fails to provide.
- India adopted this model after independence.
📚 About this Topic — CH-2: INDIAN ECONOMY 1950–1990
This multiple choice question is from CH-2: INDIAN ECONOMY 1950–1990, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-2: INDIAN ECONOMY 1950–1990 to strengthen your preparation.
