(A) Lack of diversified products

(B)Capital scarcity

(C)Primary needs like food, employment, education and health are ensured to all.

(D)Absence of consumer sovereignty

(A)

Public sector and private sector work ordially for social welfare

(B)

We use available resources scientifically

(C)

New trends influence economy

(D)

None of these

(A) Production is done for the welfare of the society

(B)The defects of capitalism are minimized

(C)Equality of opportunities is existing

(D)None of these

(A) Railways

(B)Banking

(C)Production of arms and ammunitions.

(D)Ships

(A) Socialism

(B)Capitalism

(C)Mixed Economy

(D)None of these

(A) The smooth production and distribution of commodities in a country

(B)The arrangement preplanned and created

(C)The sum total of the arrangements made for the production and distribution of goods and services in a society.

(D)None of these

(A) Life expectancy

(B)Educational standard

(C)Standard of living

(D)Progress in science and information technology

(A) 5

(B)4

(C)3

(D)None of these

(A) Consumer monopoly

(B)Consumer sovereignty

(C)Consumer choice

(D)None of these

(A) Tastes of the consumers

(B)Demands of the consumers

(C)Profit by selling them

(D)None of these