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The concept of mixed economy means
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- to have balanced development in the agricultural and industrial sector
- simultaneous development of the rural and urban sector
- to have equal distribution of wealth among the rural and the urban poor
- simultaneous existence of the private and public sector
- to have balanced development in the agricultural and industrial sector
Correct Option: D
Mixed economy is an economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies. The basic idea of the mixed economy is that the means of production are mainly under private ownership; that markets remain the dominant form of economic coordination; and that profit-seeking enterprises and the accumulation of capital remain the fundamental driving force behind economic activity.
