Answer:
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Explanation:
The Mixed Economy is a system that combines capitalism and socialism. The Mixed Economy incorporates the benefits of capitalism and socialism while avoiding their drawbacks.Under a Mixed Economy, the private and public sectors coexist. Economic activity is directed by the government toward particular socially significant sectors of the Economy, and the balance is determined by the operation of the pricing mechanism.The public and private sectors collaborate to achieve social objectives within the framework of a common Economic plan.The private sector is a significant component of the Mixed Economy and is regarded as a critical engine of Economic growth. India is widely recognised as the world's best example of a Mixed Economy.
