Indian economy is a classical example of ________ economic system .
Socialism
Capitalism
Mixed economy
All the above
Production possibility curve is also known as
Transformation curve
Production possibility frontier
Both a & b
Supply curve
Most of the economic activities of capitalism are centered on
Planning
Price mechanism
Production
Social Interest
Profit
Income Equality
Income inequality
The basic force that drives the capitalist economy is
Technology
Government
Profit motive
Red tappism and corruption lead to
In efficiency of production
In equality of income and wealth
Absence of technology
Lack of development
In a traditional economy, basic problems are solved by
Traditions and customs
Producer and consumer
Market and producer
Producer and investor
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 .