(A) Bear losses
(B) Avoid losses
(C) Make economic decisions
(D) Face losses
Tag: Economics Mcqs With Answers
Socialism brings about:
(A) Satisfaction of consumers need
(B) Optimum utilisation of resources
(C) Equal distribution of income and wealth
(D) All of the above
Socialism means:
(A) No freedom to enterprise
(B) Complete role of government
(C) No competition
(D) All of the above
Socialism is also called:
(A) Laissez-faire economy
(B) Free-market economy
(C) Command economy
(D) Perfectly competitive economy
Capitalism is also called:
(A) Laissez-faire economy
(B) Planned economy
(C) Command economy
(D) Perfectly competitive economy
There is absence of role of government in:
(A) Capitalist economy
(B) Socialist economy
(C) Primitive economy
(D) Mixed economy
In a mixed economy, what is the motive of producer?
(A) Society’s welfare
(B) Profit
(C) Both of the above
(D) None of the above
Demerits of capitalism is seen in:
(A) Unequal distribution of income and wealth
(B) Business instability
(C) Consumer’s exploitation
(D) All of the above