Q. Which of the following countries followed the 'mixed economy' model in its early days of independence?
- India
- Pakistan
- China
Select the correct answer from the codes given below:
Answer:
Only 1 and 2
Notes: Only India and China followed the mixed economy model in its early days of independence. China followed the full control of government model. After the establishment of People's Republic of China under one- party rule, all critical sectors of the economy, enterprises and lands owned and operated by individuals were brought under government control. Like India, Pakistan also followed the mixed economy model with co-existence of public and private sectors. In the late 1950s and 1960s, Pakistan introduced a variety of regulated policy framework (for import substitution-based industrialisation).