CSEET · Economic and Business Environment · Indian Economy
Which description best fits the Indian economy in terms of its economic system as taught in the CSEET syllabus?
India is a mixed economy. Public sector enterprises and the private sector exist side by side, with the government regulating and participating in economic activity while markets and private enterprise also play a major role in producing goods and services.
- AA purely capitalist economy with no government role
- BA mixed economy where public and private sectors coexistCorrect
- CA centrally planned economy with no private ownership
- DA subsistence economy with no market exchange
Explanation
India follows a mixed economic system in which both the public sector and the private sector operate. Pure capitalism would exclude government participation, and a centrally planned economy would exclude private ownership, so neither describes India. India has active markets, so it is not a subsistence economy.
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