Explanation:

- Option 1: Mixed Economy

- India is a mixed economy.

- Combines both private and public enterprises.

- Government and private sector coexist.

- Supports both capitalistic and social elements.

- Option 2: Communist Economy

- No private ownership of resources.

- Government controls all economic activities.

- India does not follow this system.

- Option 3: Capitalistic Economy

- Driven by free markets.

- Less government intervention.

- India incorporates elements but is not purely capitalistic.

- Option 4: Socialist Economy

- Major resources owned by the state.

- Focus on equality and redistribution.

- India supports social welfare but isn't purely socialist.