Which of the following reasons help identify the mixed economy as a controlled economic system?

Profits yielded

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Regulations that cannot be surpassed

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Social welfare encouraged

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Sustainability goals

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B Regulations that cannot be surpassed
Mixed economy is also known as a controlled economic system because of its regulations. Countries like India, England, and France have a mixed economy. In mixed economies, the market is neither completely free nor fully controlled. The government levies heavy taxes on unwanted things and low or no taxes on essential goods. The government also provides stimuli like subsidies and tax relaxation for industries in backward areas. A lot of economic planning goes into such decisions.

Suggest Corrections

Similar questions

Q25. Which of the following statements are correct?

1. A mixed economy refers to market economy with strong regulatory oversight and governmental provision of public goods.

2. A socialist economic system is characterized by social ownership and democratic control of the means of production.

3. Capitalism is an economic system in which capital goods are owned by private individuals.

4. Marxian economics provided a foundation for capitalism.

A mixed economy is an economic system combining private and state enterprise.

Join BYJU'S Learning Program