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InterviewSolution
| 1. |
What is meant by planned, market and mixed economy? Explain with examples. |
| Answer» A\xa0mixed economy\xa0is variously\xa0defined\xa0as an\xa0economic\xa0system blending elements of a\xa0market economy\xa0with elements of a\xa0planned economy, free\xa0markets\xa0with state interventionism, or private enterprise with public enterprise.\xa0A\xa0mixed economic\xa0system is a system that combines aspects of both capitalism and socialism. A\xa0mixed economic\xa0system protects private property and allows a level of\xa0economic\xa0freedom in the use of capital, but also allows for governments to interfere in\xa0economic\xa0activities in order to achieve social aims. | |