5 Questions
What is a mixed economy?
An economy that combines elements of capitalism and socialism
Why is India considered a mixed economy?
Because it has a combination of public and private sectors
What characterizes a socialist economy?
Government control of the means of production
Which countries belong to a capitalist economy?
Germany, Japan, USA
What distinguishes a mixed economy from a capitalist or socialist economy?
Co-existence of both private and public sectors
Test your knowledge on mixed economies and India's economic system with this quiz. Explore the concepts of capitalism, socialism, public and private sectors, and the balance between social welfare and profit in India's economy.
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