Mixed Economy and Its Features

Q. How do the government and private sector function in a mixed economy?

1. The government works only as a police state, while the private sector works for social welfare of the society.
2. Both the sectors work for profit maximisation in the economy.
3. The government makes major economic decisions keeping social welfare in mind, while the private sector produce goods.
4. Both the sectors work to achieve the goal of social welfare.

Q. Choose the correct pairs on the basis of the objectives defined by the types of economic systems.

1. Socialist economy
2. Social welfare
3. Profit motive
4. Capitalist economy
5. Mixed economy
6. Profit and social welfare