Economic Problems and Economic Systems

Q. How is PQLI different from HDI?

Q. Which of the following are means of production?

1. Land
2. Banks
3. Labour
4. Education
5. Technology
6. Capital
7. Factories
8. Internet

Q. What do you mean by an economic system?

1. A system that deals with the production of goods produced for self-consumption
2. A system that aims at promoting consumer awareness
3. A system that talks about the organisation and distribution of available resources in a country
4. A system or a framework that focuses on restructuring economic sectors

Q. The ownership of the defines a particular economic system.

1. means of production
2. means of technology
3. means of education
4. means of transport

Q. Which of the following criteria is considered while classifying the economic systems?

1. The level of economic development
2. The ownership of means of production
3. The output of the economic sectors
4. The total production of the economy

Q. In case of police states, the main function of the governments is to maintain and the country.

1. status quo
2. law and order
3. develop
4. defend

Q. Today, countries like China and Cuba follow a strictly socialist economic system.

1. False
2. True

Q. Match the following types of economic systems as per the ownership of the means of production.

1. Private sectors
2. Both
3. Public sectors