Which of the following country adopted mixed economy?
A
India
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B
UK
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C
Sweden
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D
All of above
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Solution
The correct option is C All of above A mixed economy is defined as an economic system consisting of a mixture of public ownership and private ownership.
In India, private ownership is found in production sector along with presence of free enterprises.
In UK, private enterprise companies are free to decide what to produce and for whom to. Public good are here consumed by the market rather than individually.
Sweden is a competitive mixed economy featuring a generous universal welfare state financed through relatively high income taxes that ensures that income is distributed across the entire society.