___________ refers to the isolated and self sufficient economy.
Complex economy
Open economy
Simple economy
Closed economy
Free economy is also called ______________.
Planned economy
Unplanned economy
___________ refers to a system in which people produce simple goods in limited numbers or quantities for the satisfaction of their wants.
A ____________ must be centrally planned economy.
Capitalist economy
Socialist economy
Mixed economy
None of these
In a ____________, cyclic fluctuations are eliminated and smooth working of the economy is secured.
In a capitalist society,resources are put to _____________ use through the price -profit mechanism.
Maximum
Minimum
Both 1 & 2
Human efforts aimed at the _________ of goods and services.
Production
Consumption
Economic growth
___________ refers to an economy in which country has true relation with other countries and believes interdependence on each other.
____________, the Government decides the matters pertaining to issue of capital, prices of goods,distribution and retaining etc.
Free economy
Controlled economy
In a ___________, a country tries to remain self – sufficient and does not either import or export goods.
