___________ refers to the isolated and self sufficient economy.
Complex economy
Open economy
Simple economy
Closed economy
In a ___________, a country tries to remain self – sufficient and does not either import or export goods.
___________ refers to a system in which people produce simple goods in limited numbers or quantities for the satisfaction of their wants.
In a capitalist society,resources are put to _____________ use through the price -profit mechanism.
Maximum
Minimum
Both 1 & 2
None of these
Price fluctuations in the international market do not have any impact on ___________.
Free economy is also called ______________.
Planned economy
Unplanned economy
___________ refers to an economy in which country has true relation with other countries and believes interdependence on each other.
Competition is the essence of _____________.
Socialism
Capitalism
Mixed economy
___________ refers to the growth and economic progress.
Human efforts aimed at the _________ of goods and services.
Production
Consumption
Economic growth
