SSC CHSL 2020 PYQ — Question 29

The correct answer is option 4 i.e. a market system of resource allocation, commerce, and trade in which free markets coexist with government intervention.

• A mixed economic system is a system that combines aspects of both capitalism and socialism.
• It protects private property and allows a level of economic freedom in the use of capital, but also allows governments to interfere in economic activities in order to achieve social aims.
• A mixed economy is variously defined as an economic system blending elements of a market economy with elements of a planned economy, free markets with state interventionism, or private enterprise with public enterprise.