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Question
Give reason.
There is mixed economy in Brazil and India.
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Solution
- In a mixed economy, there is a co-existence of both private and public sectors.
- The various sectors, such as banking, railways, airways, electricity production, the iron and steel industry, health, education, telecommunications, etc., are owned by the public as well as the private sector in mixed economies.
- Its main goal is to strike a balance between profit and social welfare.
All these characteristics of a mixed economy are present in Brazil and India. Therefore, there is a mixed economy in both countries.
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