Production possibility curve is also known as
Transformation curve
Production possibility frontier
Both a & b
Supply curve
Trial and error process is adopted
Capitalist system
Communist system
Socialist system
All the above
Indian economy is a classical example of ________ economic system .
Socialism
Capitalism
Mixed economy
The basic economic problems are common to
Red tappism and corruption lead to
In efficiency of production
In equality of income and wealth
Absence of technology
Lack of development
Traditional economy is a
Subsistence economy
Market economy
Command economy
Monetary economy
In a traditional economy, basci problems are solved by
Traditions and customs
Producer and consumer
Market and producer
Producer and investor
Capitalist System developed first in
Japan
USA
England
France
Capitalist production motivated by
Social Interest
Profit
Income Equality
Income inequality
The prime motive of socialist economy is
Social welfare
Production
Investor
