A _________ must be centrally planned economy.
Capitalist economy
Socialist economy
Mixed economy
None of these
In ____________, people are well educated and modern in thoughts.
Open economy
Complex economy
Agricultural economy
Industrial economy
Under ____________, people are free to make contract and settle transaction.
Capitalism
In a ____________, all means of production are privately owned,they belong to private individuals,institutions.
Natural resources are fully utilized in ____________.
Developed economies
Capitalist economies
Socialist economies
Most of countries of the present world has a / an ___________.
Simple economy
Closed economy
Developed economies are ____________ economies.
Freedom is found in ___________, both public and private sectors work for the efficient use of natural resources.
In underdeveloped economy, the level of real income and per capita income is usually very ___________.
High
Low
Both 1 & 2
A capitalist economy is a ______________.
Free enterprise economy
