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  1. The term mixed economy denoted existence of both
    1. rural and urban sector
    2. private and public sector
    3. heavy and small industry
    4. developed and under developed sector
Correct Option: B

The concept of mixed economy evolved from the ideas of Keynes. The concept of mixed economy means that both private enterprises and public enterprises coexist. However, the condition attached is that the private enterprises must work for serving the society rather than having only self interest. Further the private enterprises may not be allowed in every sector of the economy like area of national importance.



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