In a ____________, all means of production are privately owned,they belong to private individuals,institutions.
Socialist economy
Capitalist economy
Mixed economy
None of these
_________ is reflected in low per capita income.
Mobility
Poverty
Land
Price fluctuations in the international market do not have any impact on ___________.
Closed economy
Open economy
Simple economy
Complex economy
In a _________, cyclic fluctuations are eliminated and smooth working of the economy is secured.
In ________,techniques of production is simple.
___________ is one in which the economic activities and problems of production, distribution and prices are determined and influenced automatically by the free play of the market forces of demand and supply.
Free economy
Controlled economy
Human efforts aimed at the __________ of goods and services.
Production
Consumption
Economic growth
In ____________,means of production are owned by the private individuals.
In __________, side of the population is very large compared to the available resources.
Developed economy
Under developed economy
Developing countries
Natural resources are fully utilized in ____________.
Developed economies
Capitalist economies
Socialist economies
