Question

In a mixed economy, decisions related to production and consumption are taken by:

• A. The Central government only.
• B. The State governments only.
• C. The Central and State governments, both.
• D. The Public Sector and Private Sector.

Hint:

In a mixed economy, the government regulates key industries, while the private sector is free to operate in other sectors.

Answer 1

The Correct Option is C

Step 1: Understand the mixed economy.
In a mixed economy, both the government and the private sector participate in decision-making related to production and consumption. The government has a role in regulating and guiding the economy while allowing the private sector to operate freely in areas such as market exchange.
Step 2: Role of central and state governments.
Both central and state governments make decisions related to the production and consumption of goods and services in a mixed economy, ensuring a balance between public and private interests.
Step 3: Conclusion.
Thus, the correct answer is (C) the Central and State governments, both. Final Answer: \[ \boxed{\text{The Central and State governments, both.}} \]