Question : In the context of planned development in India, what does the term 'mixed economy' refer to?
Option 1: A combination of traditional and modern economic practices
Option 2: An economy where both agriculture and industry are equally prioritized
Option 3: An economy with equal distribution of wealth among all citizens
Option 4: An economy with coexistence of public and private sectors
Correct Answer: An economy with coexistence of public and private sectors
Solution : In the context of planned development in India, the term 'mixed economy' refers to an economic system where both public and private sectors coexist and contribute to economic activities.
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