___________ refers to an economy in which country has true relation with other countries and believes interdependence on each other.
Open economy
Closed economy
Simple economy
Complex economy
____________ is a system in which the state has full control on all the economic matters and activities.
Free economy
Controlled economy
Most of countries of the present world indicated ____________.
_____________ refers to an economy in which there is no trade relation with other countries.
______________ is one in which the main occupation of the people is agriculture and handicrafts.
Agricultural economy
Industrial economy
In a socialist economy,the entire economic activity of the country is controlled by the ___________.
Private
Central Planning Authority
Private and State
None of these
In a ___________, a country tries to remain self – sufficient and does not either import or export goods.
In a capitalist society,resources are put to _____________ use through the price -profit mechanism.
Maximum
Minimum
Both 1 & 2
Profit motive is the basic force that derives the ______________.
Capitalist economy
Competition is the essence of _____________.
Socialism
Capitalism
Mixed economy
