Question

In a mixed economy, industries in private sector have __________ as their objective and driving force.

• A. profit motive only
• B. community welfare only
• C. both (a) and (b)
• D. neither (a) nor (b)

Answer 1

The correct option is A profit motive only

A mixed economy permits private participation in production, which in return allows healthy competition that can result in profit. Industries in private sector have profit motive only .In a mixed economy, entrepreneurs, businesses and corporations are allowed to pursue their best interests in the market, while government or public programs, organizations, and enterprises are equally permitted to provide services and the like in the market, as well as intervene in areas like trade or taxes.