Traditional economy is a
Subsistence economy
Market economy
Command economy
Monetary economy
Capitalist System developed first in
Japan
USA
England
France
Name the economic system that operates through price mechanism .
Mixed economy
Capitalism
Socialism
All the above
Economic problems in socialist economies are solved by
Planning
Price mechanism
Producer
Investor
Who is the uncrowned king in Capitalism ?
Consumer
Both
Trial and error process is adopted
Capitalist system
Communist system
Socialist system
In a socialist economy all decisions regarding production and distribution are taken by
Market forces
Central planning authority
Customs and traditions
Private sector
The prime motive of socialist economy is
Social welfare
Profit
Production
Economic problems in mixed economies are solved by
Price Mechanism
Price Mechanism and Planning
Marketing
In a traditional economy, basic problems are solved by
Traditions and customs
Producer and consumer
Market and producer
Producer and investor
