Question

A mixed economy is characterised by the ______.

Options

• Co-existence of rural and urban sectors

• Public and private sectors

• Both Co-existence of rural and urban sectors and Public and private sectors

• None of these

Answer 1

A mixed economy is characterised by the public and private sectors.

Explanation:

A mixed economy is one in which the public and private sectors exist and function together. The government supervises essential industries such as defence and transportation, while private individuals run other enterprises. This system combines the efficiency of capitalism with the social welfare goals of socialism.