Economics · Economy

Consider the following statements: Statement (A): Initially, India's economic model was described as a 'Mixed Economy'. Statement (B): Elements from both the capitalist model and the socialist model were adopted. Choose the correct option:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Statement (A) is correct, but statement (B) is not the correct explanation for (A).
2Both statement (A) and statement (B) are false.
3Statement (A) is correct, and statement (B) is the correct explanation for (A).✓
4Statement (A) is false, but statement (B) is a correct statement.

Correct answer

Statement (A) is correct, and statement (B) is the correct explanation for (A).

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