Home PYQs UPPSC UPPSC MCQs Prelims 2011 (GS Paper I)

Question

Mixed Economy means-

  1. Co-existence of small and large industries
  2. Co-existence of public and private sectors
  3. Co-existence of rich and poor
  4. Promoting both agriculture and industry in the economy

Answer:

Option B: Co-existence of public and private sectors

Detailed Solution:

The correct answer is “Co-existence of public and private sectors”.

A mixed economy is an economic system that combines elements of capitalism and socialism. In a mixed economy, the government and private businesses both play a role in the economy. The government regulates markets and provides public services, while private businesses compete for customers and profits.