Answer: Option D
Answer: (d)
The planned economy is based on the mixed economy system. The concept of a mixed economy evolved from the ideas of Keynes. The concept of Mixed Economy means that both private enterprises and public enterprises coexist.
However, the condition attached is that the private enterprises must work for serving society rather than having only self-interest. Further, private enterprises may not be allowed in every sector of the economy like areas of national importance. Gandhian Economic order is based on co-operation equality, human values self-sufficient village, nationalisation of basic industries & theory of trusteeship.
A socialistic economic system is characterised by social ownership and democratic control of the means of production.
Capitalist system: It is the system where means of production are owned by private individuals profit is the main motive & there is no interference by the Govt in the economic activity.