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India is called a mixed economy because of the existence of
A. Public Sector
B. Private Sector
C. Joint Sector
D. Cooperative Sector
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- A, D
- A, B
- C, D
- B, D
Correct Option: B
India is called a mixed economy because there is both private owned enterprises and state owned enterprises and the government does not intervene on the decisions of enterprises owned by individuals except to govern law and to correct market failures. The product market in this case is determined by the market demand and market supply rather than the decisions of the policy makers.
