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
National product or national income in developed countries is very ___________.
High
Low
__________ refers to the growth and economic progress.
Free economy is also called ___________.
Planned economy
Unplanned economy
____________ employs most people in industry and trade and very few people have agriculture as their main profession.
Agricultural economy
Industrial economy
In a socialist economy,the pricing process is only of __________ importance.
Primary
Secondary
All developing countries are faced with the problem of mass ___________.
Poverty
Inefficient planning
Socialist economy is a __________.
In a ___________, the goods produced in the country are exported and in turn several commodities are imported from other countries.
