Which of the following are features of a mixed economy?
Options
APlanned economy
BDual system of pricing
CBalance regional development
DAll of the above
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Introduction to Business EconomicsMTP Apr 24Question 761 of 209
All Questions Correct Answer
✅ Option d — All of the above
All Options:
- APlanned economy
- BDual system of pricing
- CBalance regional development
- DAll of the above
Detailed Solution & Explanation
To determine the correct answer, let's break down the features of a mixed economy.
• A mixed economy combines elements of both planned and market economies, allowing for private enterprise and government intervention.
• It often features a dual system of pricing, where prices are determined by both market forces and government regulations.
• A key goal of a mixed economy is to achieve balance and stability, which includes promoting regional development to reduce economic disparities.
The correct answer includes all these features, which is why it encompasses planned economy elements, dual pricing, and balance regional development.
• Option A, planned economy, is incorrect on its own because a mixed economy is not solely planned, but rather a combination of planning and market forces.
• Option B, dual system of pricing, is a feature of a mixed economy, but it is not the only characteristic, making it an incomplete answer.
About This Chapter: Introduction to Business Economics
Paper
Paper 4: Business Economics
Weightage
5%
Key Topics
Meaning, Scope, Price Mechanism
This chapter lays the groundwork for understanding Business Economics as a discipline. It covers the meaning, scope, and nature of economics — including key distinctions like Microeconomics vs Macroeconomics, Positive vs Normative economics, and the fundamental economic problem of scarcity. Students learn how businesses use economic principles for decision-making in a competitive marketplace.
View Official ICAI SyllabusExam Strategy Tip
Focus on definitions and distinctions between concepts. Questions often test whether you understand the difference between Micro and Macro, or Positive and Normative statements.
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