Match List-I with List-II:List-IList-II(A) United States of America(I…

Match List-I with List-II:

List-I	List-II
(A) United States of America	(I) Role of the government in the economy reduced considerably
(B) China, for the major part of the twentieth century	(II) Closest example of a centrally planned economy
(C) India, since Independence	(III) Role of the government is minimal
(D) India, in the last couple of decades	(IV) Government played a major role in planning economic activities

Choose the correct answer from the options given below:

Answer & explanation

Correct answer: option 2

The correct answer is Option (2) → (A)-(III), (B)-(II), (C)-(IV), (D)-(I)

All economies are mixed. They differ in how big a role the government plays in deciding economic activities.

List-I	List-II	Reason
(A) United States of America	(III) Role of the government is minimal	Economic activities there are left mostly to the market.
(B) China, for the major part of the twentieth century	(II) Closest example of a centrally planned economy	The government planned the important activities.
(C) India, since Independence	(IV) Government played a major role in planning economic activities	India gave the government a major role in planning.
(D) India, in the last couple of decades	(I) Role of the government in the economy reduced considerably	In recent decades the government’s role has been reduced considerably.

NCERT (2026-27): “1.3.2 The Market Economy In reality, all economies are mixed economies where some important decisions are taken by the government and the economic activities are by and large conducted through the market. The only difference is in terms of the extent of the role of the government in deciding the course of economic activities. In the United States of America, the role of the government is minimal. The closest example of a centrally planned economy is the China for the major part of the twentieth century. In India, since Independence, the government has played a major role in planning economic activities. However, the role of the government in the Indian economy has been reduced considerably in the last couple of decades.”