In underdeveloped economy, the level of real income and per capita income is usually very ___________.
High
Low
Both 1 & 2
None of these
____________ 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
Price fluctuations in the international market do not have any impact on ___________.
In ____________, people are well educated and modern in thoughts.
Agricultural economy
Industrial economy
The quality and quantity of production depends upon the demands of the __________.
Producer
Consumer
Both 1 and 2
In___________,technique of production is complicated and mechanized.
In a __________, co-existence of public and private sector is the main feature.
Socialist economy
Capitalist economy
Mixed economy
Freedom is found in ___________, both public and private sectors work for the efficient use of natural resources.
Free economy is also called ___________.
Planned economy
Unplanned economy
In a ___________, the goods produced in the country are exported and in turn several commodities are imported from other countries.
