An economic system in which productive factors are owned by government and less importance is paid to private sector.
Capitalist system
Mixed economic system
Socialist system
Communist economic system
In which economic system characterised by private free enterprise and minimum government intervention?
Capitalist economic system
Socialist economic system
Problem of Capitalist economic system
Monopoly
Self management
Economic growth
Self production
A _________ is one imposed upon an individual person or on property, as distinct from a tax imposed upon a transaction.
Direct tax
Indirect tax
Sales tax
Service tax
In economic activities, the intervention of government is very essential in those areas where _____ is reluctant to enter.
Free market
Tax burden
Private sector
Public sector
Which economic system prevailed in India?
Capitalist econimy
Mixed economy
Socialist economy
Communist economy
What is the reason for the growth of public debt in India?
Urbanization
Adult literacy
Inflation
Expenses on internal security
_____________ budget is the one in which public revenue falls short of public expenditure.
Deficit budget
Surplus budget
Capital budget
Balanced budget
An example for productive debt
To cover deficit
For war expenses
For the construction of dams
For paying taxes
An example for direct tax
Fine
Property tax
Customs duty