The correct answer is: B. There is co-existence of public sector along with private sector.
A mixed economy is an economic system that combines elements of both capitalism and socialism. In a mixed economy, some of the means of production are privately owned and operated, while others are owned and operated by the state. The government may play a role in regulating the economy, providing social welfare programs, and promoting economic development.
There are many different types of mixed economies, but they all share some common features. First, they all have a private sector that is responsible for producing goods and services. Second, they all have a public sector that is responsible for providing essential services, such as education, healthcare, and infrastructure. Third, they all have a government that plays a role in regulating the economy.
Mixed economies are often seen as a way to balance the benefits of capitalism and socialism. Capitalism is good at generating economic growth, but it can lead to inequality and social problems. Socialism is good at providing for the needs of all citizens, but it can be inefficient and bureaucratic. A mixed economy can try to avoid the worst of both worlds by combining the strengths of both systems.
There are many different ways to design a mixed economy. The specific mix of public and private ownership, government regulation, and social welfare programs will vary from country to country. However, all mixed economies share the common goal of promoting economic growth and social welfare.
Option A is incorrect because it does not take into account the role of the public sector. Option C is incorrect because it does not take into account the role of the private sector. Option D is incorrect because it does not describe a mixed economy.