Explanation:

- Capitalist system: This is where private players control resources and market forces decide production and distribution. Examples include the USA.

- Traditional system: Production and decisions are based on customs and traditions, often seen in tribal or rural societies.

- Command system: The government makes all economic decisions and controls resources (seen in pure communist states).

- Socialist system: The government plays a major role in planning and directing the economy, but allows some private ownership.

- India’s planned economy, introduced after independence, was inspired mainly by the socialist system. This was done through Five-Year Plans, public sector dominance, and government regulation.

Option:4- Socialist system is the correct answer.