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Write the main features of mixed economy?

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The main characteristics of mixed economy are:

(a) Co-existence of the private and public sectors: Industries of national importance as basic and heavy industries are set up in the public sector and the consumer goods, industries, cottage industries, agriculture etc. are left to the care of the private sector. Besides there are also the joint and the cooperative sectors.

(b) Social Welfare: Here the private sector works but it does not pose an obstruction in the way of the social welfare.

(c) Controlled Price System: In this system the price mechanism is neither set free nor it is discarded completely. Government keeps an eye on the price mechanism in social interest so as to check inequality and maximise social welfare.

(d) Individual Freedom: No doubt in the mixed economy one is allowed freedom to work and consume but this freedom is restricted in the social interest.

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