ECONOMICS (CBSE/UGC NET)

ECONOMICS

ECONOMIC SYSTEMS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which of the following is an economic system in which the government and individuals are used to decide how to use scarce resources?
A
Market economy
B
Command economy
C
Traditional economy
D
Mixed economy
Explanation: 

Detailed explanation-1: -A mixed economic system has features of both a command and a free-market system. because it is partly controlled by the government and partly based on the forces of supply and demand.

There is 1 question to complete.