GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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what is an economy?
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An Economy is the system of production, distribution and consumption.
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An Economy is the system of production.
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An Economy is the system of distribution.
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An Economy is the system of consumption.
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Explanation:
Detailed explanation-1: -The economy is the system of production, distribution, and consumption of goods and services. There are different types of economies: command, traditional, market, and mixed. Each varies in their ideals and systems of controls. Economies are not borne in a vacuum.
Detailed explanation-2: -An economy is a system that helps to produce goods and services and enables prople to earn their living.
Detailed explanation-3: -Britannica Dictionary definition of ECONOMY. 1. [count] : the process or system by which goods and services are produced, sold, and bought in a country or region. The war altered the country’s economy.
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