In a capitalist society,resources are put to _____________ use through the price -profit mechanism.
Maximum
Minimum
Both 1 & 2
None of these
In a ___________, a country tries to remain self – sufficient and does not either import or export goods.
Simple economy
Open economy
Complex economy
Closed economy
In a socialist economy,the entire economic activity of the country is controlled by the ___________.
Private
Central Planning Authority
Private and State
In a ___________, the goods produced in the country are exported and in turn several commodities are imported from other countries.
A ____________ must be centrally planned economy.
Capitalist economy
Socialist economy
Mixed economy
Free economy is also called ______________.
Planned economy
Unplanned economy
____________ is that in which several kinds of goods are produced in large quantities.
Competition is the essence of _____________.
Socialism
Capitalism
Price fluctuations in the international market do have impact on _____________.
___________ refers to the growth and economic progress.
