Question

Answer the following question in one or two sentences.
What is meant by a mixed economy?

Answer 1

1. The mixed economy is the one in which both the public and private sectors co-exists.
2. 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.
3. India has adopted a mixed economy to solve its basic economic problems.