Mixed Economy

Q.

What are the five types of economic systems?

Q. Price-mechanism is an important feature of _________.
(i) Market economy
(ii) Regulated economy
(iii) Mixed economy
(iv) Capitalist economy

1. i and ii only
2. iii and iv only
3. i and iii only
4. i and iv only

Q. Define capitalist economy?

1. Both A and B
2. Private induals exercise the controls
3. None of these
4. Profit motive

Q. What is mixed Economy ?

Q. As a result of the industrial revolution, a new class of people called _______ came into existence.

1. tenants
2. bankers
3. workers
4. capitalists

Q. A system of economy in which all means of production are owned and controlled by private individuals for the purpose of profit is called ___________.

1. Capitalistic economy
2. Mixed economy
3. All of the above
4. Socialistic economy

Q. One of the important features of capitalist economy is ______.

1. price mechanism
2. economic planning
3. economic equalities
4. social welfare

Q. What are the demerits of mixed economy?

1. Unstable economy
2. Delay in economic decision
3. No control on private sector
4. All of the above

Q. Microeconomics is a study of __________.

1. An individual economic unit
2. Whole economy
3. General price level
4. National output

Q. What are the disadvantages of capitalist economy?

1. All of the above
2. Profit motive economy
3. Labourers are exploited
4. No relation with social welfare

Q. External Economies and Diseconomies arise due to _____________________.

1. Overall industry-level changes
2. Changes at the Firm level
3. Both (a) and (b)
4. Neither (a) nor (b)

Q. With which form of economy is the term 'Laissez-faire' associated?

1. Socialist economy
2. Capitalist economy
3. Mixed economy
4. Command economy

Q. Which of the following is not a feature of a capitalist economy?

1. Citizens can own private property.
2. Price mechanism is decided by the market.
3. Price mechanism is decided by the state.
4. There is continuous innovation.

Q. A capitalist economy is also called as ____________.

1. command market economy
2. free market economy
3. controlled market economy
4. regulated market economy

Q.

Infrastrcuture refers to such core elements of economic and social change which serve as a support system to production activity in the economy.

1. True

2. False

3. False

Q. Which of the following country adopted mixed economy?

1. UK
2. Sweden
3. All of above
4. India

Q. Fill in the blanks:
The economy is divided into __________ sectors.

Q. A capitalistic economy is also known as ______________.

1. Free economy
2. Market economy
3. Laissez faire
4. All the three

Q. Indian Economy is mixed economy because:

1. Agriculture and Industry have both simultaneously developed in India.
2. Agriculture and Industry have both developed in the Public Sector.
3. Any of the above.
4. Private Ownership and Public Ownership over means of production co-exist

Q. Differentiate among capitalist, socialist and mixed economies.

Q. Capitalist economy is an economy under which private owner controls the resources for the sole motive of ____________.

1. social welfare
2. earning profit
3. both of these
4. none of these

Q. What is the main characteristic of a capitalist or free market economy?

1. Individuals are the owners of factors of production
2. Consumer freedom
3. All of the above
4. Profit is the main motive of carrying out various activities

Q. The most widely observed economic system today is a/an economy.

1. communist
2. sSocialist
3. mixed
4. asiatic

Q. In which economic system all the means of production are owned and controlled by private individuals for profit.

1. Mixed economy
2. Socialism
3. Capitalism
4. Communism

Q. What is the main aim of capitalistic economy?

1. To earn maximum profit
2. To achieve social welfare
3. To balance between profit and welfare
4. All of above

Q.

1. Private firms
2. Consumer
3. Government
4. Industrialists

Q. The main principle of capitalistic form of economy is ____________.

1. Betterment of society
2. Profit
3. Service
4. Equal distribution of income

Q. Which of the following is the feature of developing economy?

1. Low per capita income
2. Economic inequalities
3. All of the above
4. Backward technology

Q. We know that the industrial sector plays an important role in the development of India. Which sector does not come under industrial sector?

1. Mining
2. Banking
3. Utilities
4. Manufacturing

Q. Another name given to command economy is _________.

1. capitalism
2. communalism
3. socialism
4. centrally planned economy