A ____ economy model means the State and the private sector would play important and complementary roles in increasing production and generating jobs.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

A Mixed economy model means the State and the private sector would play important and complementary roles in increasing production and generating jobs.
A mixed economy is one in which State- and privately-owned companies jointly manage the ownership, production, distribution, and exchange of goods within the nation. The United States and France are two nations with diverse economies. A diverse economy keeps an eye on monopolies' influence. Both the market and the command economic systems have elements of mixed systems. For this reason, mixed economic systems are also referred to as dual economic systems. There is, however, no accurate way to identify a mixed system. India is now regarded as having a mixed economy because the private and State sectors coexist there and because it makes use of foreign trade. Individuals have the freedom to establish their private businesses and professions.

Watch 3-min video & get full concept clarity