Competition is the essence of _____________.
Socialism
Capitalism
Mixed economy
None of these
In ___________,the state has total control on all economic matters.
Capitalistic economy
Socialistic economy
____________, the Government decides the matters pertaining to issue of capital, prices of goods,distribution and retaining etc.
Free economy
Controlled economy
Simple economy
Open economy
___________ refers to the isolated and self sufficient economy.
Complex economy
Closed economy
Human efforts aimed at the _________ of goods and services.
Production
Consumption
Economic growth
In ___________,technique of production is complicated and mechanized.
___________ refers to a system in which people produce simple goods in limited numbers or quantities for the satisfaction of their wants.
____________ is a system in which the state has full control on all the economic matters and activities.
___________ refers to an economy in which country has true relation with other countries and believes interdependence on each other.
In a ___________, a country tries to remain self – sufficient and does not either import or export goods.