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*Meaning of mixed economy:-
A mixed economy is an economic system that combines elements of both the public sector (government) and the private sector (individuals and businesses).
*Sectors of economy
The economy is typically divided into various sectors based on the nature of economic activities and ownership. These sectors play distinct roles in the overall functioning of the economy. Here are the primary sectors of the economy:
1. **Primary Sector:**
This sector involves natural resource extraction and agriculture. It includes farming, fishing, mining, forestry, and hunting.
2. **Secondary Sector:**
The secondary sector encompasses manufacturing and industrial activities.
3. **Tertiary Sector:**
The tertiary sector, also known as the service sector, includes services such as healthcare, education, banking, transportation, entertainment, and retail.
4. **Public Sector:**
The public sector refers to government-owned organizations and services, such as public schools, healthcare institutions, public utilities, and government agencies.
5. **Private Sector:**
- The private sector consists of privately owned businesses and corporations, which engage in various economic activities to make a profit. It encompasses a wide range of industries, from small businesses to multinational corporations.
6. **Quaternary Sector:**
This sector involves knowledge-based activities, such as research and development, information technology, consulting, and intellectual services.
7. **Quinary Sector:**:
The quinary sector focuses on high-level decision-making and includes activities such as top management, government leadership, and advanced research.
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