Multiple choice

The term 'mixed economy' implies co-existence of

  1. agriculture, trade and industry

  2. domestic industry and multinational industry

  3. large scale and cottage industry

  4. public sector and private sector enterprises
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D Correct answer
Explanation

A mixed economy is an economic system that combines elements of both market and planned economies. It is characterized by the coexistence of a private sector (owned by individuals) and a public sector (owned by the government).

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