The correct answer is: A) Mixed Economy.
A mixed economy is an economic system that combines elements of a market economy and a command economy. In a mixed economy, some economic decisions are made by private individuals and businesses, while others are made by the government.
India adopted a mixed economy after independence in 1947. The Indian government has played a major role in the economy, but it has also allowed private businesses to operate. This has led to a diverse economy with a mix of public and private sector companies.
A command economy is an economic system in which the government controls all aspects of the economy. The government decides what goods and services will be produced, how they will be produced, and who will get them.
A market economy is an economic system in which the prices of goods and services are determined by supply and demand. Businesses are free to produce whatever goods and services they want, and consumers are free to buy whatever they want.
A traditional economy is an economic system in which people produce goods and services primarily to meet their own needs. There is little or no trade or specialization in a traditional economy.