Q. India adopted the ‘mixed economy’ model after independence. Which of the following is correct about ‘mixed economy’?
Answer: It is an economic system where private and public both sectors co-exist and operate.
Notes: An economy in which there is both the private sector and the Government is known as a mixed economy. A mixed economy is variously defined as an economic system blending elements of market economies with elements of planned economies, free markets with state interventionism, or private enterprise with public enterprise.

This question is part of 40000+ General Studies MCQ Series Course on GKToday Android app. Question Number: 90 in General Studies Mock Test - 47 in above course in App.