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Which of the following are the main features of Mixed Economy?
1.Co-existence of Private and Public Sector
2.Private Property is allowed
3.Profit Motive
4.Social Welfare
Select the correct answer using the codes given below
1 only
1, 2 and 4
2 and 3
1, 2, 3, and 4
"Co-existence of Private and Public Sector" - This is a characteristic feature of a mixed economy where both private and public sectors coexist and contribute to economic activities.
"Private Property is allowed" - In a mixed economy, private property is typically allowed, and individuals or entities can own and control private assets.
"Profit Motive" - The profit motive is a key feature of a mixed economy. Private enterprises aim to generate profits, and the market plays a significant role in determining resource allocation.
"Social Welfare" - While the profit motive is important, a mixed economy also emphasizes social welfare. The government often intervenes to address market failures, provide public goods, and implement social welfare programs.
Therefore, the correct answer is 4, "1, 2, 3, and 4."
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