Google News
logo
Today General Knowledge(GK)
The Indian economy can be most appropriately described as a :
A)
Traditional economy
B)
Capitalist economy
C)
Mixed economy
D)
Socialist economy

Correct Answer : Option (C) - Mixed economy



There are primarily two types of economies capitalist or free market economy and socialist economy. Mixed economy is a median between these two main economies taking some characteristics of either of them. We have adopted mixed economy in India. All the basic industries such as railways, post and telegraph, defence production, atomic energy etc. are in the public sector. Industries dealing with consumer goods are in the private sector. India has a pubic private partnership economy

Published On : June 26, 2021
Category : Indian Economy
Advertisement